And the S&P is Saying, "Whaddya Want from Me?"

Compare and contrast the Nasdaq ETF's intraday chart, first below, versus that of the Russell 2000 Index's ETF, second below, also on the five-minute frame. 

We have the potential for a trend day higher in one, and a trend day down (using the loose definitions of trend day, there) in the other. Indeed, it is that kind of market where, as we discussed earlier today, the leading issues like AMZN FB GOOG NFLX are masking sluggishness below the surface. 

It may turn out to be "nothing," but in the meantime I am noticing fewer and fewer long setups are triggering breakout levels. 

I also sold the rest of my DWTI long earlier this morning, inside Market Chess Subscription Services, at $101.68 from a $94.66 entry. Crude oil may see a quick bounce here, and I will run through a potential reentry setup for Members in my usual Midday Video, filming now.

I also covered a FDX short for a loss of less than 1%, as a rumor swirled that Bill Ackman might have something to do with the name. Into the weekend, I am not going to fool around with that.