The market has provided a nerve-wracking amusement park ride for those with the stomach to hang in there. Of course, the Brexit vote caused a nasty selloff due to the uncertainty of what comes next and the long-term ramifications, but the ensuing recovery was just as swift. At the end of it all, stocks are right back where they have been, mired in the same long-standing trading range but apparently (in my opinion) more inclined to find some sort of upside catalyst. Read more about Sector Detector: Stocks remain inside their long-standing trading range, but an upside breakout grows more likely

Volatility continues as the parade of mixed earnings and economic reports marches along amidst a backdrop of global unrest and economic uncertainties. This has led to a neutral near-term outlook for both the technical picture and fundamentals-based sector rankings. Nevertheless, the longer-term trends appear to favor further flattening of the yield curve and continued strength in the dollar, gold, volatility, and equities. Read more about Sector Detector: Neutral indicators and mixed reports, but sector rotation model bullish

Scott MartindaleAlthough the large caps set new highs early on Friday, small caps and NASDAQ have not come close to their prior highs. Friday closed with extreme weakness across the board, and it was on high volume. The technical picture and our fundamentals-based sector rankings have both taken a bearish turn, so we might see more weakness ahead. Read more about Sector Detector: Rankings take a bearish turn as the flight to safety solidifies

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