The markets opened this morning and dropped several points, but then recovered and just traded sideways in very choppy fashion all day. A rally in the last half hour of trading brought the markets back to the unchanged mark. I take this last few minutes of trading as a bullish sign since traders did not appear to be taking money off the table for the weekend. Retail sales were reported up for February but the Michigan Consumer Sentiment report surprised traders with a drop for March when they were expecting a small increase. The dollar traded down today, but this didn't seem to fuel the market as it has recently. Trading volume pulled back a bit on the NYSE and NASDAQ, but it remained above average on the S&P 500. RUT closed at $677 down less than a dollar from the open. SPX closed right at its 52 week high of $1150, down $0.25 for the day. My March and April iron condors are largely unchanged at this point as the markets drift sideways. So the question remains: is this bullish rally stalled or just pausing for a moment? But we can only play the market move we see, not what we predict, so we wait.

