It is becoming clearer by the week that the rally that was ignited last August on the heels of QE2 is running out of gas. If prices did move higher, it is possible that this could be construed as bullish as it does take bulls to make a bull market. But being so late in the rally, it would seem that any potential gains would be just crumbs to the gains that have already been made. Furthermore, without a sell off to move investors and cash to the sidelines, it is hard to see a rally of any significance developing. Call me a non-believer, but the market really needs to sell off and investors need to turn bearish (i.e., bull signal) before any real umph returns to this market.
"...market-wide sentiment was still slightly in Sell Bias territory as, excluding Financials, sellers outnumbered buyers 3-to-1."