No Action

We are in a period of consolidation here. Yesterday was brutal to watch as we were in a tight range for the whole day. The S&P traded within a 2 point range for two hours, crazy. On a different note I do see some of the Nasdaq leaders show relative weakness, for example GOOG and AAPL and this makes me cautious here especially with the low volume. Stay light here this the market tips its hands or play long term time frames, it is just not worth it.