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Today is options expiration, so expect some additional volatility around the open. I would then expect some weakness early next week, since this has been a big week and there could be an options expiration hangover like we sometimes get.

Oil and gold are trading slightly higher this morning, while the dollar and bond yields are slightly lower. The 10-year is hovering around 4.86%.

Despite yesterday's strong market, the ISE Sentiment index closed at 0.96, an elevated level and one that is indicative of skepticism with respect to this market rally.

AMG's fund data showed that including ETFs, domestic funds reported net outflows of $1.38 billion last week, while money market funds reported net cash inflows of $19.1 billion. Who said everyone is bullish?

I have taken some profits and raised some cash for what could be a modest pullback. But I am also scouring for new breakouts and new leadership that could begin to emerge. Happy hunting.
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