Today was uninspiring. While there were more advancers than decliners, the lack of volume is usually a sign of uncertainty. It’s a tough place to be as an investor. But patience and due diligence will win out.

One ray of hope is that there are signs out there that we may be in for a near term rally. For example, the 20 year bond put in a negative divergence today, while the US dollar rallied a bit and is sporting a positive divergence. In my experience this ying-yang usually precedes a rally.

Don’t take this as a signal to go head first. On the contrary. Until the Dow can clear its 20 day EMA (12,310) on a closing basis, it’s best to be a spectator, not a player.