Sellers seem to be unmotivated as the levels we have been observing as important for support continue to hold for all of the markets. The question from here becomes, is this consolidation before further strength or is it distribution before a more meaningful pullback? When looking at longer term timeframes it appears the market is closer to more significant potential levels of resistance than support and that would suggest we be alert for signs of weakness, but for now we remain “innocent until proven guilty!”