Stocks higher this morning, though as we’ve seen in the month of September these gains can fizzle out, but I don’t anticipate that happening today. 

Yesterday’s market action was likely pretty typical of what we’ll see this month and into October with expansive trading swings. 

The Dow and other major indices seem to be in a slow-drip decline, which can be deceptive and seem innocuous on the surface but underlying there can be quite the volatility – it is September….

Reviewing a cross section of charts representing a variety of sectors, the market seems a bit tired; not ominous of a major retreat, but an indication they may need to consolidate before they can make more ground. 

The VIX trading just above 16 this morning, which brings it back to its baseline.

Just two trading days left in August and we may see a pullback in September – historically the most difficult month for stocks. 

September is the cruelest month for stocks historically. 

This summer the stock market has navigated well through a number of different headline events. 

The Russell 2000 – composed of medium and small cap stocks – is lagging behind the broader market and the larger cap indices. 

A structurally good day for the market yesterday with the indices and underlying market continuing to perform as well as they have.