Daily action both Wednesday and Thursday were relatively stable-to-firm, as I suspected we'd see unfold in this run-up into the early parts of Quarterly re-balancing which now concludes on Friday. That's why I disputed the bear calls and thought this market would hold together, with the rotational focus on so-called 'value' versus 'momentum' stocks (plus Oil) holding it up

So these were not unusual days at all. Relatively low volume, narrow ranges in stocks. Good backdrop despite geopolitical jitters and talk about domestic politics aside (neither the NFL or NBA issues are moving markets however the financial fallout might be typified by DirecTV (DTV) offering full refunds to those who bought Sunday Ticket if they wish to not spend money supporting NFL decisions). That's an issue that could have indirect ramifications.

Some questions exist over just how 'miraculous' Trump's tax plan will be for the middle-class; but that's the basis on which this market justifies hanging in as well. Other trends across FX (foreign exchange), bond, Treasury (huge 7 year Auction) and commodities was generally range-bound. The Euro still is tentative a bit ahead of the upcoming Referendum in Barcelona (great city just no fun with an 11 hour flight nonstop back to Atlanta) and Oil slipped a bit as some ponder whether it can hold up. We suspect yes over time. 

No change in market view; we need to get through re-balancing and rockier times may well unfold during October. Stay tuned.