The dollar is up. Oil and copper are up. Gold and silver are down. Bonds are up.
Last week the market posted a solid gain, but thanks to late-day selling on Friday, the S&P’s monthly winning streak was snapped.
The S&P is smack in the middle of its range; the Russell 2000 in the upper half of its range.
Long term the market looks great. Shorter term things are neutral and trying to turn up. The AD line has improved, and new highs at the NYSE expanded last week. It’s a start, but to support a rally attempt more improvement is needed.
I continue to like the market overall, but there’s no momentum in the near term.