Major indices are retracing from last week’s record-setting with no known catalyst. A batch of better-than-expected earnings were reported this morning with Coca-Cola (KO) and Harley-Davidson (HOG) beating analysts’ expectations. HOG also raised its full-year guidance, which gave the stock an additional boost.

All 11 sectors of the S&P 500 are in red. Technology is the worst performer with semiconductors lagging. The PHLX Semiconductor Index is down 3.2%, trimming its April gain.

The market breadth is weak with more losers than winners.

Very intriguing action spotted in auto retailers this afternoon. The latest Apple Mobility Trends show driving is still on the rise.

The market is vulnerable to this short-term weakness but offer opportunities to find ideas.