The Pains of Purgatory: Stocks Dip as Anniversary of S&P 500 Record High Comes, Goes

Stocks remain stuck in a rut after following Friday's gains with small losses. And it's now been more than a year since it last hit a new all-time high. The S&P 500 fell 0.2% to 2,048.04 today, while the Dow Jones Industrial Average ticked down 0.1% to 17,492.93. The Nasdaq Composite dipped 0.1% to 4,765.78. The S&P 500 hit its all-time high of 2,130.82 on May 21, 2015. Since then we've had plunges--remember August and January ?--and surges-- October and March --but the market has pretty much gone sideways. Even Bollinger bands , a technical indicator that helps determine whether a stock is set to break out or head lower, are historically narrow. MKM's Jonathan Krinsky explains: