Frozen Sideways

Despite giveback in the energy, solars, and materials complex today, the rest of the tape is far from what bears have been expecting. 

As we head into the heart of the afternoon, the major indices appear to be frozen sideways more than anything else. A green Dow and the QQQ flipping green, too, as I write this may leave the door open yet to a blow-off type of move higher before the ursine traders eventually get what they want. 

In the meantime, we are still focused for Members on identifying sector rotations and isolating the most actionable setups. GoDaddy, for example, is rather coiled on all timeframes with earnings now out of the way. 

As for the issue of solars and energy stocks, even if a name like FSLR has bottomed it is still likely going to be a turbulent ride, such as we discussed yesterday. So, for traders it is probably correct to focus attention on some better charts. 

In my coming Midday Video, we will also discuss natural gas and the sell-off of late.