The pattern for two weeks has been one nice up day and the rest choppy, so I'm not expecting a long string of increases.
If the market can hold up until next week, that will be the time to start looking for another correction.
These are things that can quickly give the market pause, especially with the volatility index being so low.
We should cheer for a down day just to shake out the complacency that arrived so swiftly this week.
With most momentum stocks -- lately the tell in the market -- making lower highs today, I will be surprised if we are not down or flat by Thursday.
I am not sure we are going anywhere special until we get a bit more oversold.
The change in statistics in Nasdaq could be cause for concern.
But given the froth we're seeing now, I suspect we are not quite done with the chop effect.
As the chop-fest continues, we could get some month-end mark-ups tomorrow.
Breadth typically shrinks when stocks are overbought, but swings in sentiment occur at a market high or low.