Too many excuses to ignore

There are too many reasons the market should be down today:
    TI's revenue estimate dampen the hope a little bit that tech is going to lead the market out of the woods.
    Oil price spiked higher after OPEC's action or lack of the action.
    Dallor fail against Euro.
    and most importantly, we had a up day yesterday ....

But it did not fail as much as it normally does, so, is it a good day?

Hardly, as noted before, This is a range bound market for the time being, it may set up a trap or build a base leading to the FED meeting.   Before 9/18, we will see a slightly uptrend but do not be fooled into false sense of complacence.   The baloon could be poped right after FED's decision annoced.    

In the mean time, the leading big caps are doing just fine. you looked at celg, csco, oracle, intc, ndva, hpq etc, all are a stone throw away from all time high.  but small cap definitely suffered the most, just looked at iwn.

So, what we should do...

Trade carefully and take profit if you can.  

I am taking a close look to the smh, it is kind of in a precarious position, next couple trading sessions is very important, if it fail further down, you can forget about the qqqq rally.

some other stocks are also behaved interesting.  crnt,  if it can keep its head up the water, it maybe a good buy
while hdng looks bad and could trun worse.  

let's see if we can grind some profit out of this market