Lethargic Trading

Markets seem tired. The primary uptrends on the daily charts are clearly intact and it will take a lot to turn them bearish. Interemediate term, the $SPY and $QQQ hit news highs in the last 24 hours but there doesn’t seem to be much conviction in the moves. This is where I need to remind myself that ONLY PRICE PAYS! The $XLF is neutral as it remains in the range of 15.50-16.00 and the rising 20 day MA is now found at the lower end of that range which increases the significance of that level. Semiconductors remain above key support near 2510 and their 20 DMA is also found in that area. Markets remain innocent until proven guilty.