Here we can see a broad trading range in the S&P 500 e-mini (ES) futures (top chart) and in the euro (bottom chart). A look at commodities (DBC, for example) shows similar rangebound action.
I noticed that we made a little over 1000 new 20-day highs across the NYSE, NASDAQ, and ASE; that's down from over 1400 at last week's peak. We're also off last week's peak in the advance-decline line specific to NYSE common stocks. I will be watching the breadth and new highs carefully this week to gauge the odds of breaking out of this range to the upside vs. falling back into the range and possibly retesting the lows.
Keep an eye on the Twitter posts; I'll be using them to update indicators (follow the Twitter stream here).
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