Market Thought... nothing new

Since the last market thought post, happy 4th, nothing has changed.  The themes that should facilitate market activity are stronger economic data, now that the supply shortages are worked out, and earnings. (But again, these themes are not new.)  In the mean time, the SP 500 is still at its resistance.

The one thing I would like to point out is the strong action in names like IBM, CAT and DD. (There are others, but these three get the point across.) They CAT and DD are seeing interesting reversals of negativity, along with multiple expansion via IBM.  If these stocks are used as market indicators, the market will break this resistance soon-rather-than-later, and will begin to see a multiple expansion.