DULL MARKET THEORY

The market was certaintly dull till about 15 minutes ago when new highs for the day were made and the financials continued an upward trajectory. Semis have been green all day along with the NAZ.

A high tick reading of +1300 also hit the market as the highs were made so the 130.5 area on the SPY may turn out to be the high area for the day. I was tempted to short those high ticks but passed on the trade.

Sector leaders continue to be internets, semis, biotechs, retailers and tech. Laggards continues to be metals, oils and airlines.

Market internals continue bullish at +1,100 and the Volatility indexes are down 5%.