ATR - End of the day

The indices finished higher and breadth was positive but have mixed action on my screens. The QQQQ showed good relative strength and Google acted well but there also was some poor action from the likes of FFIV, PWAV, AAPL, BRCM etc. As always your perception of the market is going to be colored by your specific holders. I had a flat day with my losers offsetting my winners so my feeling is that we had a choppy market. In addition I didn't hear a lot of positive comments from the active traders and momentum players that I know which makes me suspect that I'm not alone in my inability to make any substantial progress today. Once again the market continues to hold up extremely well. My feeling is that we have a classic ?wall of worry? situation right now. It isn't that there is extreme negativity out there but the bulls seem unusually cautious and are not fast to expend their buying power. However as the market continues to hang tough they inch in a little and that keeps pushing us up which attracts more cautiously optimistic bulls and so on. If there weren't some very good reasons to worry about this market we probably would not be holding up as well as we have been. That slightly cautious undercurrent is what is keeping things elevated. Personally I'd like to see the market rest a big more before we start earnings season but obviously I don't have much say in the matter. I'm maintaining my bullish posture as the trend remains upward but I do have an increased amount of cash and am not chasing much at this point. I hope you had a good day. I'll see you tomorrow.