These are the kinds of days the bull needs. They are the rest that the bull needs to get before it can charge higher.
Notice, for example, how tech's rolling over. That's very good. Tech's ultimately a crummy leader over time because it can be so narrowly focused. We wrote a note today about Adobe (ADBE) for Action Alerts PLUS, which you simply must read because the quarter was superb. But the market has decided, after an initial up move, that one of the best quarters that has been reported this year was subpar.
That's about as long as the initial reaction to Honeywell's (HON) numbers.
Plus, have you seen what Matthew Boss did to the retailers this morning, especially to Nordstrom (JWN) , which the JPMorgan analyst took to a Sell? I know a lot of people who own the store because they want a robust stock to play the strength in retail.
But Blake Nordstrom told Boss he hasn't seen the mall this bad since 1972. Now that's a comparison. What does that tell you about how Amazon (AMZN) might be doing? (Amazon is part of TheStreet's Growth Seeker portfolio.)
Ultimately it is a day of confused rotations and selloffs. We get a couple of days of back and forth, slop and chop, backing and filling, we might be ready for the next charge.
