Stocks failed to extend the advance in afternoon trade. No one wants to be in a vulnerable position if a correction takes place. Still, the major indices finished the session modestly higher. Stocks are just 1% off of their 52-week highs. Texas Instruments announced an improved its earnings outlook. However, the semiconductor company’s shares slipped. Cisco unveiled plans for its new router. The daily chart is approaching the resistance.

Advancing Sectors: Telecom (+1.2%), Industrials (+0.8%), Tech (+0.4%), Financials (+0.3%), Energy (+0.1%)
Declining Sectors: Materials (-0.5%), Utilities (-0.3%), Consumer Staples (-0.2%), Health Care (-0.1%), Consumer Discretionary (-0.1%)
FEAR METER: The implied volatility inched higher.