Right now it is a market of indecision. There's no clear theme to build on. If retail sales come in very strong, it is going to tip that delicate scale into the direction of a strong economy, a hot economy and higher rates.
With the Fed watching every stream of data that's coming out, investors are taking a cautionary stance due to ongoing concerns about the likely direction and the extent of future rate increases.
The market is apprehensive and hesitant in its conviction, waiting for clearer earnings direction from perceived market leaders.