Individual investors are exercising patience, or at least that is what it looks like. What are they waiting on? Perhaps they are waiting for the S&P to break out of its range on one side or the other. Or perhaps they are waiting for the Fed to move on interest rates. Regardless of what they are waiting on, once they do move out of the neutral camp and pick one side or the other, the market will likely move in the direction they choose, at least initially it should.