Major averages closed near breakeven on higher volume, though the day was overall uneventful.
In favor of the majors continuing their advance are:
1) The growing number of recently actionable names
2) The overall health of stocks with right side of bases firming up
3) The shrinking number of bulls by way of investor sentiment
4) Quantitative easing due to a slack economy.
In favor of the majors continuing a sloppy sideways move:
1) Fears of a rate hike sooner than later
2) A news driven market - news out of Greece et al and any reports of economic strength making investors nervous about rate hikes
3) Two important internal indicators we use have yet to signal a green light to the current attempted uptrend.
Odds favor a breakout over a breakdown.
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