Until earnings and forecasts start turning around, we are going to stay stuck in this tight trading range. There is no incentive for buyers to get back in the market.
What is the compelling reason to buy stocks right now? There isn't one. If you're looking out six, 12, 18 months, there are some good ideas, but right now there's no incentive to buy,
The biggest problem right now is sentiment. We've got to start wading through second-quarter results soon, and it's looking like they're going to be weaker than was previously expected. There's no incentive to buy.