The market has been trading in a very tight range with buyers emerging when the Dow Jones Industrial Average dip nears triple digits and selling materializes when the Dow Jones Industrial Average nears triple digit gains.   Market breadth has been decidedly negative all session long, but big names like Boeing (BA) are keeping the Dow buoyant.   Still, with the broader market breadth is mixed with most of the pressure in the NASDAQ after big downgrades in the chip sector.

For now, there are more 52-week lows than highs for the NYSE and NASDAQ, but the up volume is better than down volume for the NYSE.

Essentially, the market is in a holding pattern of sorts.  The major indices could finish either way, although, there is greater pull to the downside.   Buyers have spread to Industrial and Material names, but its Consumer Discretionary names leading the charge.

The American consumer is stronger and more confident than in more than a decade, and success will spark additional success.  I want to stay in there.  I’m still spying homebuilders, but there are exogenous issues that continue to give me pause.