With a rangebound market and warning phases in 2 of the 6 Modern Family members, our dog, for now, is sitting in a standing 1922 railway car.

NASDAQ (QQQ) and Semiconductors (SMH) are in bullish phases and the weekly charts all show underlying support.

The S&P 500 (SPY), also rangebound, did manage to go back into an unconfirmed bullish phase. It will need to have a second close over 272.50 to confirm.

Last weekend, the Daily, “Does Your Dog Bite?,” explored the many predictions for the market and the current administration in this new Chinese Year of the Brown Earth Dog.

With warnings about both finance and upheaval in the Trump administration, the week of February 16th ended with confirmed bullish phases in QQQs, SMH, Biotechnology (IBB) the Dow (DIA) and Retail (XRT).

One week later and SPY (unconfirmed), DIA (unconfirmed), Russell 2000 (IWM) unconfirmed, Biotechnology (IBB) also unconfirmed, QQQs, and SMH have that distinction. The rest deteriorated in phase since 2/16.

Granted, the market is now rangebound. This makes total sense after the recent vamping up of volatility. However, going into this week, we expect the ranges to reconcile one way or another. Our brown earth dog wonders, “Once this train gets moving, do I want to go north or south?

On the weekly chart, the SPY has had two inside weeks, which means that this past week was inside the trading range of the week prior, which was inside the trading range of the week before.

What better way to specifically see how the charts are reflecting the hesitation of commitment from both the bulls and bears at this time. Although most of The Modern Family ended the week near the top of the recent trading range, they all are nonetheless, rangebound. Here again are the trading ranges we are watching.

Semiconductors (SMH) range to break 102-106 (in bullish phase).

Regional Banks (KRE) in a bullish phase, range to break- 60.50-63.50.