We can only write the Dow misses the 20,000 mark again so many times. What the market is waiting for is anyone’s guess. Aside from the NASDAQ the S&P 500, Dow, and Russell 2000 remain in consolidation mode. Volume was mixed today as NYSE volume surged higher while the NASDAQ was left behind. Earnings season is now upon us and AA kicked it off last night. The stock rose 5% today, but volume was not overly impressive. CUDA was another earnings winner until the market officially opened and sellers hit the stock back near breakeven. This is what we mean by earnings season and knowing when your stocks report. We’ll continue to be prudent with our money management process and adhere to our trading signals. There is absolutely no reason to abandon them now. Stick with the plan.

Commentary will be short tonight. We will need to see continued positive action from this market and avoid further distribution. Stick with your winners and shed your laggards. Rinse and repeat. Over and over and over.

Keep it simple and do not over think this market. It will be a costly mistake.