Distractions. Thu Mar 4

It has been a week for distractions and once more I've been unable to really devote my full attention to the market. However, it is pretty much flatlining so I'm not missing much.
European markets are quite strong and have recovered a large chunk of their January fall but the Dow Jones and the local Xjo index are grinding up with rapidly dwindling momentum. Those who track momentum are pointing out that bearish divergence is emerging.
Here's the DJIA.

Click to enlarge

Here's the Xjo.

I'm mainly staying out of trouble at the moment. I didn't play the rally particularly well but did make a few dollars. I don't generally want to be going long at present but neither are there many sell signals either.
Intraday is a washout today too and I'm looking at breakeven unless there's a late sell off. The Aussie market is still up 6 points at 3.16pm while the Nikkei and the Hang Seng are down about a half of one percent and the Shanghai index is lower by 1%. European stocks closed before the US gave up early gains so there'll probably be a negative bias there initially as well.

4.24 The market squeezed up into the close, we are in an uptrend after all so my few intraday positions were closed out for small losses.