Up Day As Expected, But Somewhat Disappointing

Markets were up across the board except for gold and the dollar (interesting). While the broader indexes finished higher, the action seemed to be fairly restrained. The Qs appear to have completed 5 waves up from the Sept 3 bottom. The question is, is this wave i of 5 of (C) or just part of a larger sideways correction that will take up most of September? Rejection at the August high, the high of the rally, would setup a retest of the September low of last week. This would still not be too bearish as long as the August low holds.

Because of the early morning selling on what I expected would be a more bullish day given the 3 day weekend, I unloaded 3 laggards this morning. There's no need to carry dead weight around if we are not seriously heading higher. I will continue to cull the laggards as September progresses, unless some definite follow-through occurs.