It has been said the opposite of love isn't hate, it is indifference. The market is offering a good example of that feeling today. There is very little going on out there. The indices don't have any upside momentum, but they don't have much traction to the downside either. Breadth is running around 3050 gainers to 3650 decliners but there is still a good amount of stocks hitting new 12-month highs.
If there were stronger emotions there would be move movement but neither bulls or bears seem willing to press at this point. Quite often dull action does lead to upside but if it lasts too long there is a greater inclination to sell out of boredom.
The best approach to a market like this is to look for stocks that are sinking to some support levels because of the lack of interest. Lyft (LYFT) , for example, continues to sink on lighter volume. Since it is an IPO there isn't any support on the chart, but the last money it raised privately was around $55 so there are some market players looking for support at that level.
Gold (GLD) also looks quite poor. It has drifted back to support at around $121 and looks very poor technically. It often is a buy when the charts look terrible. If that is true then you have to be watching it here. I'm not inclined to bottom fish that sort of technical setup but it will be very interesting to see if it can hold in this area.
This is just an extremely dull market right. There is always someone that will disagree about the number of opportunities there are but I see nothing I'm anxious to jump into right here. I'll just bide my time and wait to see how things develop from here.