It's significant that yesterday's sell-off was led by the financial sector because it was financials that initially kicked off the March 2009 rally.

For now, Deron Wagner's overall short-term market bias is neutral.

Precious metals ETFs may be headed back up, after recently correcting down to short-term support of their 10-day moving averages.  With gold trading at a new high, well above the $1,000 mark, there's virtually no resistance to hold it down.

This week, the parade of earnings reports from market-moving companies continues.

It's possible the laggard action in the Russell 2000 could simply be a very short-term aberration that corrects itself within the next several days. But if the Russell doesn't soon catch up to the rest of the broad market, we view it as a yellow warning flag to the bulls.

In the near-term, the market continues to act bullish, and has given us no solid reasons to exit long positions or start selling short.

Since the beginning of the month, fixed-income (bond) ETFs have fallen out of favor.

The good thing about the major indices so neatly trading right at their prior highs is it's easy to spot relative strength amongst leading sector ETF's.

All three broad-based ETF's formed "doji star" candlestick patterns yesterday. This pattern is neither bullish, nor bearish. Rather, it indicates indecision.