There's No Big Rush for the Indices at this Point

 | Mar 05, 2018 | 10:50 AM EST
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Stock quotes in this article:

mu

,

sq

,

casa

,

twtr

,

srpt

,

rckt

,

cara

We have mixed action with a negative bias as market players try to shrug off worries about European elections and trade wars. There are plenty of good excuses for this market to selloff but the dip buyers are trying to hold the S&P 500 at the early lows. The probably won't last if 2675 continues to be tested but there isn't any big rush for the indices at this point.

Breadth is running around 2400 to 4000 negative but there are a few pockets of momentum like Micron (MU) and Square (SQ) in the bigger caps and some select biotechnology.

The best movers on my screen is last week's 'Stock of the Week' Casa Systems (CASA) and my current Stock of the Week, Twitter (TWTR) .

I am eyeing some biotech names such as Sarepta (SRPT) , Rocket (RCKT) and Cara (CARA) .

The overall market is struggling and the best way to deal with it is selective stock picking and good defense. Cut those stocks that are acting poorly and only buy those that are showing superior price action. It is very easy to be jerked around by the headlines now so be careful about being too bearish or bullish.

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