It was obviously a negative day today supposedly fueled by inflation worries. As I've been saying, though, it's tough to get too worked up over these movements while the indices are well within their trading ranges. I've been finding next to nothing in my EOD scans so I'm more than content to play light while the consolidation continues. Zzzz...
Below are the charts of the S&P 500 and the Nasdaq:
My 2 pennies on "inflation worries." Given that gold got hit (and continues to get hit today, Tuesday), I would say it is more interest rate worries that created angst on Monday. Whether or not the market wants to pay attention to inflation is a separate issue. It looks like folks are finally waking up to it. Time will tell soon it seems.