Since the middle of April, the Stock Indices have basically gone nowhere. They are in a rotational pattern and have not had the strength to break out in either direction. While this is frustrating now, it does give us good areas of trade location as long as the internals confirm a breakout.

The Indices were oversold on Friday but today are overbought. That does not preclude them from trading higher tomorrow but does give us a little more information as to what to expect.