Markets shrugged off some early weakness to close just above UNCH. Both the Nasdaq and S&P 500 have been trading very tightly, and quietly. If the old adage proves prescient, “never sell a dull market”, bears could be in for some additional, unwanted pain. Stocks breaking out of valid bases on sound trade mimicked the boring action of the tape. One exception was COL which managed to take out a 61.94 flat base trigger. Some others attempted to take out pivot points in unacceptable trade. They include flat base triggers from KKR 19.26, ADT 49.20, WDC 49.60. Look for trade to confirm these breakouts in the coming sessions. The all important transport group had some very nice winners today, the best showing coming from JBHT which rose more than 6% in gigantic trade hitting an all time high. Some secondary indicators are coming in mixed. Bullish investments advisors are falling, which is bullish in of itself because it could add future fuel to a rally going forward. But AMTD said yesterday that the retail investor is getting giddy once again pouring money back into the markets. We know that historically the retail investor is usually wrong. Could this be one of those instances again?
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