Because today is so incredibly boring. Ugh.
What are you seeing:
Well, the indices are flat, if DIA closes green, that would be unprecedented. 9 days straight green would be a new record that is 12+ years old. Asian markets are down, most other major markets are relatively flat.
IYT - extremely bullish, up over 1% (!)
GS - its green.
TLT - its red.
EUR/USD got slammed this morning, this is usually very bearish. Was down 0.85% this am, recovering a bit now.
Volume? Maybe? Its very low and weak. This is a ghost market.
SO, now what:
Who knows... you can make a case either way here. But whatever is going on is extremely boring. I can understand traders not wanting to short this market, but I don't really understand traders buying this market. So, I am lightly committed to the short side.
Interesting note: From the desk of Ryan Detrick: "The percentage of bears in the Investors Intelligence poll declines to 18.8%. It's the first time below 20 since May 2011, and dips below 20 marked market tops in 2010 and 2011.... 'Be aware.'"