Two days of market closure and speculation but not much pent-up demand to buy or sell, it seems. At the end of the day, I expect trading volume will be near the highs of the year but so far the buyers and sellers are even.

The S&P 500 is trading up 4 points to 1416. Last Thursday’s high of 1421 is keeping a lid on enthusiasm. Month-end flows are always difficult to predict.