The market is in another limbo period awaiting a quarterly earnings reporting period. Market is subject to heightened volatility amid investor perceptions about the economy. 

Stock features indicating a lower opening this morning.

A ten percent correction has been elusive year to date or has it? 

The prevailing market condition allows for evaluation and confirmation  of the uptrend from both  bottom up and top down perspectives.  This is extraordinary since this has not been seen in decades. 

With the first half of 2021 completed, I think the full story really is presented top-down with very uniform performances. 

Solid and nicely balanced performance number for the major market indices. The big story might be that the Nasdaq has overtaken the DJIA year to date.

The big 3 momentum leaders in the market have staged a comeback and then some after a rough start to 2021. 

I continue to monitor the market from a bottom-up perspective with some emphasis on whether or not the recent action in the market is distributional, or reflecting underlying buying potential. 

Earlier this week I mentioned that there were some calls for a 10-20% decline in the market. In hearing these I always recheck my analysis, but I would argue we’re in an accumulate phase and there is still good underlying buying potential. 

Headline events over the last week and the market’s reaction to those events have, to some degree, reshaped my outlook for the remainder of this year; not in a greatly material way, but more subtle tones.