The market remains within striking distance of recent high

The market remains within striking distance of recent high. The Nasdaq 100 is 1.97% down from its 2011 high. Other indexes are withing 5% of recent high.

The market has been dealing with lot of negative news and yet it has shown very good staying power. As they say the market climbs a wall of worry. 

Net net the range established in last 6 to 7 months continues to dominate the action. When the range breaks there will be big move.