As anticipated, yesterday put in a perfect consolidation day in a very tight range. There was little to point to that was about to move the market. AIG sold off a unit to MetLife. Obama is pushing healthcare reform. Greece and Dubai are moving closer to getting in a healthier position, which turns eyes toward Portugal, the next shoe to drop. After the Dollar’s failed attempt to break out above 81.34 last week, it is stuck in a narrow trading range between 78.45 and 81.34. Crude made a run at the January high and then faded. Overall, the bulls didn’t have the ammunition to move the market through resistance, but the bears lacked any real impetus to break the market down. Volume remains light. The NYSE couldn’t even break a billion shares. The group performances were evenly split. Consumer, Insurance, and Telecom were modestly higher, while Capital Goods, Banks, and Semis were lower. This is a good healthy rotation out of groups that are extended and into related groups. We lacked any economic news yesterday, and we’re about to repeat that scenario today. If we can push through the week without giving up any significant ground, it will bode well for a month-end, quarter-end rally. Until then, the light volume makes it equally dangerous to get short without an impetus. This morning, Toyota is facing another “sticky situation”. Domestic autos should benefit from the news. Other than that, the technicals are pointing to a continuation of the consolidation process.