Tuesday, June 14, 2011


The market was totally dead today. The indices did little, breadth was negative and there just wasn't anything of interest happening. We opened slightly positive, drifted lower all morning, popped higher on some chatter about new jobs initiatives and then closed weak.

There was no energy in either direction, which is particularly troubling for the bulls since we are oversold enough and down a sufficient number of days in a row that we should have a little better bounce. But even the very short-term traders can't seem to pull it together long enough to create a little action.

Hopefully, something will shake us out of this lethargy soon. There is no edge out there, and we can't change that fact.

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