Apple (AAPL) continues to struggle as we await its earnings report, and the economic data weren't too hot, but a good report from 3M (MMM) and a buyback and dividend increase from IBM (IBM) is creating some misdirection.
Breadth is pretty good at about 3,200 gainers to 1,700 decliners and there is buying interest under the surface, but there isn't any particularly strong momentum. In fact, my screens are very quiet; it's mainly just random movement.
So far today has been one of my more inactive trading days, as I just don't see any energy in the upside action right now. I'm watching plenty of things closely, but until we are rid of the AAPL overhang there just isn't going to be any really aggressive buying.
Patience isn't particularly appealing, but I see little other choice at the moment.