Market Pause

Yesterday's overall performance was encouraging to the net gainers but the internals acted poorly. This market is clearly in a range trade marked by the August 8th highs as resistance for the SP and the DJI. The NQ100 has eclipsed that high which is indicative of the continued play to buy the NQ for the long haul. Bulls have had the advantage since the Fed intervention but will have to now pause and see how the market deals with Friday's data.