A Quiet Summer Day from Afar

On the surface, the S&P 500 Index is printing a "doji" day so far, meaning a rather tight range and indicative of some mild indecision on the part of market players.

Below the surface, we have some bonafide blow-ups in the private prison arena, with CXW and GEO down more than 35% as I write this on news the DOJ will no longer be using them for federal prisoners. I am not yet inclined to look to "buy the blood," even if this is an overreaction. Another few days of selling like this, though, and a scalp would be on my radar. 

Beyond that, TWTR is selling off harder than it was at the off open a downgrade, but is still above its 200-day moving average, which would be a major test of mettle to see if buyers can defend. If they do, it would add a bit more credence to a bottoming thesis. For now, Twitter is shaking out after a strong multi-week really.

On the bullish side of the tape, cybersecurity plays remain sharply in focus. I will be updating Members with some of the best looks in my usual Midday Video.