No Easy Way Out of This Town

Yesterday's sharp upside reversal in the market is taking a breather today, while beaten-down solars names like SEDG SUNE catch oversold bounces. In addition, mature tech name CSCO is seeing a post-earnings rally. 

Overall, though, the action is tame following the fireworks we saw yesterday afternoon. In addition to watching the biotech issues on the IBB ETF around the $370 area, the small caps in the Russell are working through a rising wedge, denoted on the 10-minute timeframe, below, dating back to yesterday's lows on the ETF. 

AMZN and UA are acting well are marquee leaders, while retail name KSS continues its downtrend as many retail sector stocks are weak and getting weaker. 

One thing is for sure: The market remain within city limits in its long-running range, and there is still no easy way out of this town--At least probably not before Labor Day.