The market has struggled today with most sectors in the red since the opening bell.  The standout is Consumer Discretionary, which seems odd if investors are bracing for a recession. 

The fact is, overall forward guidance was strong enough for buyers to materialize while dismissing the recession noise.   Keep an eye on homebuilders, which act great amid signs of an inflection point for the housing market.

We’ll know more after they begin reporting starting with DR Horton (DHI).

The overall market seems fatigued from being battered around from all the wild speculations and developments.

I have to say; I’m actually surprised major indices aren’t lower.  The fact they aren’t can be seen as a potential buy signal, but we need to see a lot more before becoming more aggressive.