the nasdaq is essentially exactly where it was a month ago and two month ago - check the value 30 and 60 days ago. A little up and down in between but this is the definition of a sideways market. The longs and shorts are holding tight, not doing much of anything. The real good shorts are continuing to trend lower. A few longs after making good moves have stalled. Not always a bad thing. If the market moves higher and those same stocks don't follow, that is a bad sign.
Look for the possibility of the S&P and the Dow to possibly trend down over the next few months towards the bottom of their respective trend channels. If that is the case, the 'good' stocks will continue to tread water and maybe even give up a bit of ground, however the 'bad' stocks could have great moves to the downside. Run the fundy filters and check the tech charts and have a short 'short' list ready to go.