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The Iffy Bull

|Includes:SPDR Dow Jones Industrial Average ETF (DIA), QQQ, SPY

The Bull has yet get a grip as the gravity of the Bear keeps it in check.

Lackluster action hasn't given us much a trend to buy into. As price action on the major indexes remains below major moving averages we're in no position to think the upside of this market is the path of least resistance.

However, it's often a mistake to short a dull market. While the strength of the Bull is iffy, we're holding a Buyer's Caution bias, or Yellow Flag, for lack of more conviction among Bears.

Stay tuned,

Disclosure: Short: DECK, TEX

Stocks: DIA, SPY, QQQ