The stock market is going nowhere slowly

The S&P has moved sideways in a very tight range for more than a week. A push down on Thursday (signalling an increase in demand preventing a drop) was followed by an extremely weak up bar on Friday showing a quick withdrawal of this fresh demand.

 

My table of relative-strength sectors shows the Cyclical Group with a small .07% gain in January. But there were only two (the Auto and Leisure sectors) of eleven sectors that had gains. Eight of eleven sectors were flat or negative. This does not bode well for the overall stock market.

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