Traders are waiting for earnings season to get in full gear to assess where sectors will likely go. Remember this last month movement up is based on a oversold condition in the market and now earnings will separate the strong sectors from the weak, therefore marking out the leaders and laggers here. Not much went on today but chop and a very narrow range but if I had to give it to one side it would be the bulls as we didn't sell off hard on the gap down.
The internals here show we are overbought but that doesn't mean we can't get more overbought so stay nimble here.
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