Computer algorithms will trigger volatility even if there is no surprise news.
The intraday action on Tuesday was troubling, as selling that appeared late in the day pushed most of the indices back to their intraday lows.
The downside action Tuesday afternoon wasn't necessarily a bad thing for stock-pickers.
The pros are anticipating some near-term weakness.
Let's check the charts and data for any implications.
There is a shrinking universe of stocks I like from the long side.
We now suspect the markets will become much more selective regarding upward participation.
What was most impressive Tuesday was that the number of new 12-month highs.
Trying to predict what the indices are going to do on a day-to-day basis isn't yielding very good returns.
After a solid showing Monday, the question now is whether the market can continue to move upward with no major news events looming.