Not much of a day for the market. Volume was extremely low overall and there was little volatility. We are sitting just under 3000 on the NASDAQ and perhaps some horizontal action will now be in the cards. I can't help but wonder though, was last week's two day sell down really it?

Another lower than average volume move up today puts us right back at where we started the week. The losses from two days ago have been completely recovered, and both indices are back above their 10 day moving averages.

The only concern with this is that volume was lower across the board. However, nowadays anything goes so volume aside the market has successfully retraced its steps and found fresh strength. Unless we fall back below the 10 MA tomorrow, we should expect a re-test of ast week's highs sometime next week.

The market finally confirmed it has topped, atleast for the immediate future, as an early morning gap down was followed up with further sell pressure throughout the day. The NASDAQ and S&P 500 both fell over 1% marking their largest losses of the year. Volume was heavier across the board.