Does the market seem dull to you? It’s not your imagination. Just take a look at the volume of the SPY. We have gone from an organic, price-discovering market to one which just goes up half a percent, day after day, based on “trade talk optimism”. Apparently volume isn’t necessary:
Using the spiffy new version of SlopeCharts, I pulled down a bunch of ETFs (click on any for a bigger version). They are below and I’ve caption each of them with a few words. They are each marked as Green (bullish), Red (bearish), or Yellow (unclear).
Green: The DIA it has pushed above its neckline. It’s up to Friday’s job report at this point. 
Red: Germany is coming up against important resistance, but if it clears that first horizontal, the next target (the higher horizontal) is more formidable. 
Green: China has completed a cup with handle pattern 
Green: Precious metals miners have formed a powerful base 
Yellow: HDGE, the fund that shorts stocks, has reached a lifetime low (understandably). 
Red: Home construction is mashed up against two importance resistance lines 
Yellow: Small caps have been lagging the large caps; the red line is key resistance 
Yellow: iShares Transportation Average (NYSE:IYT) have been weaker than industrials; the price gap is still intact. 
Red: QQQ - as long as the “lower lows” stay intact 
Yellow: SMH - that trendline represents important resistance, and earnings season is coming 
Green: Semiconductors seem unstoppable these days 
Yellow: TLT - A terribly messy pattern; lifetime highs are closed, but this does not look poised to vault much higher than it already has 
Green: We have successfully tested the breakout so far; just need to stay above red line 
Yellow: USO - Encountering weakness recently; a break of the ascending trendline, and more important, a break of the grey horizontal beneath would send this much lower 
Red: Homebuilders have pushed up to major resistance 
Red: Energy companies seem very prone to downturn, and any weakness in crude oil will be exhibited more strongly with the oil companies themselves 
Yellow: XLF - we are range-bound; long-term direction is at the mercy of which of those horizontals gets broken 
Red: XME Long-term pattern still down, in spite of recent strength