Implications of monetary policy remain concerning; while the bifurcation I've addressed for months, continues. That limits potential damage to 'already crashed' stocks; while their potential (where innovative and/or disruptive) sure is retained. It's concentration 'in the few' leaders where exposure dominates.

This is an interesting military weekend too; as if Ukraine really breaks through it would affirm the Spring offensive; and send Russians fleeing to Moscow.

I understand the temptation to hedge positions; while technicians ponder the market as if it were an encompassing mass, which presently it is not. We are not seeing a market going much of anywhere, as it remains 'range bound'. It of course will react to whatever happens with the 'Debt Ceiling' negotiations.

The correlation may change; but things could get violent in either direction if we get some reconciliations (or failure) from the upcoming White House and Congressional talks, I suppose. Individual volatility has not correlated much; but there is a 'tone' of rising or falling with the 'tides' as they go in-and-out.

In sum: mostly a few graphics this weekend; as nothing significant changed. I could make a case in either direction for the S&P; with limited moment in the smaller stocks, which may seem boring; but eventually some will be lively.

Friday was sort of a defensive day; but not dramatic. Just 'absence of bids' with the Debt issue pending. So since nothing else really changed; and you're all aware of the challenges without resolution; let's just let graphics speak for the most part, and see what can progress (or get retarded) next week.

After the Close we learned of the GM airbag cylinder recall - a separate issue from China's Tesla "recall" that maybe isn't.

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