Stocks Slightly Higher Into Final Hour as Energy Prices Fall

BOTTOM LINE: The Portfolio is about even into the final hour as gains in my Networking longs are offsetting losses in my Retail longs. I have not traded today, thus leaving the Portfolio 100% net long. The tone of the market is neutral as the advance/decline line is slightly lower, sector performance is mixed and volume is average. For the second week in a row, the energy sector saw the greatest amount of net insider selling in the S&P 500 last week. Insiders sold $1,161,986,392 worth of stock, while purchasing $1,043,576 worth. This is the greatest insider selling I have seen in any S&P 500 sector in quite some time. I expect US stocks to trade mixed-to-higher into the close from current levels on lower energy prices and short-covering ahead of Wednesday’s FOMC meeting.