SHORT TERM: stocks close mixed in quiet trading.

The stock market opened lower this morning and continued a bit lower until a few minutes after 10:00. After the ISM report, stocks gradually worked their way moderately higher for most of the day. The SPX and R2K made slightly higher highs for the bull market, but only by a few cents. Bonds closed about 1/4 point higher, Crude gave back earlier gains to close 20 cents lower, Gold closed $2.50 higher, and the Euro remained lower all day. At the close: SPX/DOW were mixed, and the NDX/NAZ were 0.15% lower. We did get that short quick pullback this morning in the SPX, and then moved higher. Yet there was little participation by the tech sector, as tech stalwarts Google and Apple traded lower most of the day. Both are still sliding lower since they reported their stellar earnings in Jan. The cyclicals, in the meantime, continue to support the market. Short term, the SPX could have completed a five wave advance from the Jan 26th low at this afternoon's highs, as there appears to be a near completed structure. The DOW/NYA both come up a bit short, so this is not confirmed. The cyclicals continue to act well, as we wait on the techs to join this advance. Best to your evening!

MEDIUM TERM: bullish

LONG TERM: bullish.