Lack of Market Leadership

Apple is a good example of what we are going to see as the market muddles around in this 1200 to 1320 S&P trading range.  There is essentially no sector that offers a home run or even a place to hide other than cash.  A declining earnings picture is going to trickle down from the financial sector into the rest of the economy. Techs and oils will no longer be the easy choice, biotechs are a natural, but they are getting pricey, so the choices keep getting tougher.

7:48 AM CDT