A year-to-date score card finds the DJIA up about 13%, beating the S&P 500 by ~100 basis points but trouncing the Nasdaq which is up by ~5.6% YTD. 

CBOE Volatility Index had been hovering in a support range at the 16/17 area; not surprising to see it rallying this morning above the 18 level. 

June began where May left off; I’m referring to the way in which the market rallies early and then surrenders the lion’s share of its gains by the closing bell. 

Today marked the unofficial beginning of the summer session. As of last Friday’s close, the Dow is within about 1,500 points of Doe 36,000 which had been my previous target. 

Demographics argue strongly for the healthcare theme. 84,000 Americans are 100 years old or older and in the coming decade about a quarter of the population will be 65 or older. 

Yesterday’s trading action was the latest example of a market that is bound by its trading range.

The fear factor is ebbing on Wall Street, at least as depicted in the action in the VIX. 

Momentum sectors may be finding their technical groove; a number of stocks representing areas such as consumer discretionary, healthcare and technology seem to be moving back toward their short-term trend lines. 

The net money flow is starting to turn more positive for a number of stocks that that had been under pressure. 

Market action along the lines of what we saw yesterday, is likely to be more of the norm than the exception over the short term.