After the morning selling gave way to afternoon buying the market ended mostly flat.  Small cap stocks were once again laggards on the session as the Russell 2000 ended down .46%.  The Russell 2000 continues to be very weak and it closed below its 200 day moving average.  On the other hand the S&P 500 remains in an uptrend.  We do have 5 days of distribution on the S&P 500 and the NASDAQ Composite.  This morning’s selling certainly struck some fear in the market, but buyers remain in the driver’s seat for the most part.  Keep riding your winners and cutting your losers.

We have quite the week for earnings, data, and a Federal Reserve Meeting.  More to come this week as tonight’s commentary will be short due to travel schedules.

Stick with your winners.