Today's market opened up weak and then started to strengthen as the day wore on; so far, this is a familiar pattern of late. But then the markets sold off the last thirty minutes to log losses for the day. SPX lost $3 to close at $1403 and RUT was essentially flat at $830, gaining about half of a dollar. Trading volume was flat to slightly down with 2.6 billion shares of the S&P 500 trading. Trading volume was down 3% on the NYSE and was down 2% on NASDAQ .

Existing home sales came in essentially flat at 4.59 million in February as compared to 4.63M in January. Analysts continue to debate whether we have seen the bottom in the real estate market.

My April condor on RUT continues to build value with a P/L of +$1,980 with delta = -$11 and theta = +$60.

Many market pundits have been predicting a correction for some time now; perhaps the markets are basically trading sideways and allowing the overbought conditions to dissipate in a more tranquil way. Then again, maybe tomorrow it collapses... Stay on your toes.