May is done as we start a holiday shortened week in which we are still stuck in a range. So much going on in the world and here in the US that, bull or bear, you must admit the market has held up nicely. In fact, when comparing last week’s breadth, a majority of the sectors I watch actually improved in breadth this past week.
We get important numbers this week from the ISM and the jobs data on Friday. Perhaps one of these catalysts will be cause enough to break out of the range. Then again, with enough going on in the EU, these reports may be fuel for a geopolitical fire.