I'm not particularly fond of consolidation periods. Trading is erratic and unpredictable - it's also more of a stock picker's market (not exactly my forte). I prefer markets with rising tides, at least on a sector basis. Pretty clear Mr. Market has been in a sideways consolidation for the last couple of months, the low point being the time of the Japanese disaster. So I'm just biding my time, holding some cash, trading a little here and there, waiting until something meaningful happens.

Something might happen this week. US markets are now nearing the top of the trading range (Canadian markets lag a little). Don't know if the market breaks out on this particular attempt, but since no amount of bad news has been able to sink it yet, an eventual upside breakout seems likely. This, despite the impending end to QE2 in June. The Ben Bernank is supposed to speak on Wednesday - we may get some clues as to whether there will be some more presents from the Fed. There is potential for things to get interesting.