There was a very nice kick-save by equity bulls on Thursday, as the bears looked emboldened early but failed despite Meta's meltdown and a tick up in rates. And then there was good EPS news after the close, with GOOGL soaring and MSFT popping.

We hate to use overly complicated technical terms to describe the recent price action, but the stock market is acting a little -- squirrely. Or nervous. Or fidgety. Who is going to put up the big money to take prices higher? Are investors still in profit-taking mode for the massive gainers but then rotating to other areas of the market? In the big picture, there hasn't been a negative technical mark on the current uptrend. But there certainly does seem to be some short-term indecision among market participants.

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As stocks keep trending higher, insiders continue to exercise restraint. While their defensive posture has stabilized (and indeed lessened a tad) over the past few weeks, it seems that corporate executives, directors and beneficial owners view overall stock valuations as likely extended. That attitude appears to be mirrored in the broader market. Investors are clearly willing to push share prices higher, but the selling days (when they do occur) tend to involve noticeable drops -- suggesting a readiness to withdraw quickly if (if) any bad news has legs. So far, though, that just hasn't been the case, with big down days turning out to be one-day wonders.