Sometimes, it takes the patience to win you out in a yo-yo market.

An inside day with diminishing vol on the big board. Here is the definition of the inside day from investorpedia,

What Does Inside Day Mean?
A candlestick formation that occurs when the entire daily price range for a given security falls within the price range of the previous day. Inside day often refers to all versions of the harami pattern and can be very useful for spotting changes in the direction of a trend.

An inside day is often used to signal indecision because neither the bulls nor the bears are able to send the price beyond the range of the previous day. If an inside day is found at the end of a prolonged downtrend and is located near a level of support, it can be used to signal a bullish shift in trend. Conversely, an inside day found near the end of a prolonged uptrend may suggest that the rally is getting exhausted and is likely to reverse.

Now here is an interesting tidbits on the trading front,

Computer studies suggest that inside days— where the high is lower than the previous day's high and the low is higher than the previous day's low— provide very reliable t entries in the S&P 500 futures market. The basic trading pattern is an inside day (ID) followed by a sale if the next day's market opens lower or a buy if next day's market opens higher. Entry is on the open and exit is on the same day's close without a stop.

In computerized tests, this basic procedure produced 68% winning trades in the S&P between 1982 and 1987. This is a reasonably high percentage and suggests a strong tendency or bias for prices to continue in the direction of the open the day after any inside day.

Refinements

One simple variation of this pattern—discerning whether the ID close and next day's open are in the same direction—produces an even higher percentage of winning trades. The ID has a higher close than the previous day and is followed by a higher open. A buy is taken on the open and exited on the close. A sale is taken when the ID has a lower close and is followed by a lower open.

What do we have tomorrow? a weak opening due to Chinese Manufacturing data and Euro area problems. So it is interesting to see how the market unfolds tomorrow.

As for as leading growth stocks, majority I am monitoring are staying healthy or digesting the previous big run ups (AAPL, BIDU, PCLN, GIL, NFLX, APKT, VRX, CMG, RVBD, VMW, SNDK, FFIV, TPX etc). As for the turn around stocks, such as UAUA, LVS and housing stocks are also behaving constructive.

GOLD is perking up to finish its basing. I think GLD should challenge 120. Once 120 is broken ... then sky is the limit.

When market started its overdue correction, it pays to exercise patience to win you out in a yo-yo market. As far as the growth stocks concern, they are nothing but consolidating, which does not mean they won't tumble if the market tumbles the next few days.