Mere words may move markets, but it’s the underlying patterns that buyers and sellers groove into the market every day, week, month and year that rule our analysis. 

Tuesday’s mixed bag of small cap breakouts and S&P 500 pullback doesn’t give us much to go on. Friday’s heavy selling put a dent in the upward trend. We’re waiting to see if any more heavy selling comes in to suggest more that this light pullback is in store.