SHORT TERM: neutral to positive.

The SOX index and the TRANsports look like they have more work to do on the upside. Our four horsemen: NAZ/NDX/SPX/DOW seem to be consolidating recent gains with their sideways activity for most of today. On the 15 minute charts, it just doesn't look like this market is ready to go down yet. It had ample opportunity today. Keep on eye on the SOX index and the TRANsports on tuesday. They should provide the answer.

INTERMEDIATE/LONG TERM: bullish.