The stock market ended the day on a flat note after sliding from its opening high. The S&P settled just below its flat line to register its third consecutive decline while the Nasdaq outperformed throughout the day.
Prior to the open, the Retail Sales report for April missed expectations for the fifth consecutive month. Only four sectors registered gains, but the technology sector held the lead throughout the session and prevented the S&P 500 from registering a larger loss.
The market continues to languish in an indecisive fashion here. Unless we get a catalyst soon, I could see a short term rollover to the downside soon. As a result I trimmed a little today just to exercise some caution.
I did however add OPK as a long today at 15.25. Its approaching a 15 year potential breakout and the volume was excellent.
See you in the morning.