The markets continued their low volume, sideways to slightly higher march today. SPX lost one dollar to close at $2038 and RUT gained $7 to close at $1186. Interestingly, NASDAQ also broke out higher today. Both RUT and the NASDAQ composite have been trading sideways since Halloween, while SPX continued higher. That comparative price action has suggested a consolidation of prices was beginning for the markets, but today's price action reversed with SPX slowing and RUT and NASDAQ gaining. Trading volume bumped up today with 1.9 billion shares of the S&P 500 trading, but this remains well below the 50 dma. Trading volume increased 10% on the NYSE and increased 7% on NASDAQ. Volatility was nearly unchanged with a tenth of a point increase to 13.0%.

We didn't have any economic news of any significance today. CSCO announced earnings after the close and beat estimates. But their weak outlook is giving some traders second thoughts. That may weigh on NASDAQ stocks tomorrow.

Many of you have been messaging me with guesses about the "big event" coming on Friday. Hint: it is shared between two countries.