The market seems somewhat “Groundhog’s Day”ish to me.

In my movie, I wake up each day in a town that is fraught with harrowing images only to discover it’s just a dream. Or is it?

The landscape is filled with goblins. President Trump’s executive order on the ACA is one.

Without politicizing, the highly speculated biotechnology sector as measured by the ETF IBB moved lower.

This caused the doves to flock to a decreased chance of a hawkish Federal Reserve. Treasury Bonds rallied.

Meanwhile, with dreamlike ease, FANG stocks traded higher. GOOGL made a new all-time high and Amazon (AMZN) cleared $1000.

Yet in our macabre set, safety trades such as Utilities (XLU), Consumer Staples (XLP) and Gold (GLD) moved up in price. Simultaneously, Semiconductors (SMH) continued its very real ascent to another new high (and then closed slightly lower).

The administration has vowed to boost coal, challenge climate-change science and bombast renewable energy. Nonetheless, 8 of the 10 fastest growing U.S. solar markets are in states that voted for Trump. The solar ETF TAN, gained about 1.50% today.

As the market repeatedly sidesteps and skips over ghosts, witches and ghouls, when will a new reality trip it up?

After the Russell 2000 had 2 inside days, Thursday’s session did not give us very much clarity. Typically, after a 2-day pause, the instrument reconciles in the direction that the 2-day range breaks up or down. Instead, the Russell 2000 (IWM) chopped around. What could frighten this key index?

One real horror show is in brick and mortar retail (XRT). Although the move to online shopping intensifies, one must wonder when empty malls and failing retail chains become the camel’s back-breaking straw?

Going back to Biotechnology (IBB), if the price closes the month below 327.73 (still a way off) take heed. That would be a failure of the weekly channel line it cleared the first week of September.

Without speculators supporting IBB, consider that like active traders decaying.