Mild bounce

The market bounced back a little bit today, but volume eased a bit, so there wasn't too much conviction behind it. The big story of the day was the fact that bond yields turned decisively down, with the yield on the 10-year falling to 4.48%. I would have thought this would generate more excitement among stock investors, but such was not the case.

Energy stocks got a bit more of a bounce than most other sectors, and retails stocks did okay also. Financials, especially brokers, were the laggards today. Breadth was negative, and the Hi/Lo index is also negative for both the NYSE and Nazz. As such, leadership is becoming more narrow, meaning it is more of a stock by stock market. This means more work, but the rewards should be worth it.

Have a great night--