Here are the latest technical and sentiment indicators:
Technical Indicators (daily chart)
S&P 500 is above its 50-, 100-, and 200-day MA = Bullish
MACD (S&P 500; 19,39,9) is above the zero line = Bullish
MACD (S&P 500; 19,39,9) is below its signal line = Bearish
S&P 500 support @ 2350, then 2280
Sentiment Indicators (+RSI)
II survey: (March 14): 53.4% Bulls; 17.5% Bears = Bearish
AAII survey: (March 15): 31.2% Bulls; 38.7% Bears = Neutral
VIX: @ 11.28 = Bearish
RSI: (S&P 500) @ 61.79 = Neutral
Comment: How do you trade a trendless market? You don’t. In the past, when the Fed raised interest rates, and it was also options expiration week, there was usually fireworks. Not this time. Lately, the market is putting everyone to sleep, which is the time to be on guard. Instead of trying to guess what the market will do next, be ready to follow the trend (when that trend develops). By the way, small technical cracks are showing up. We have to wait and see if those cracks get bigger.
Lance Roberts of realinvestmentadvice has another excellent column here: goo.gl/9hD891 : Just Buy Everything.