The market continues to chug along as if it doesn't have a worry in the world. The constant talk about the DJIA hitting 20,000 is probably helping the bullish cause, as it is difficult to believe we are not going to hit that level before a reversal can occur.
Breadth is quite good again at almost exactly 2-to-1 positive, but the number of stocks making new 12-month highs has dropped to about 250 at the moment. That is mainly a function of the fact that the rotation is slowing. Most sectors have already had their day in the sun and now they are churning near highs but not pushing higher.
A good example of stocks that are slowing is the FANG group. All four names are lagging today, with Amazon (AMZN) and Alphabet (GOOGL) looking particularly vulnerable. Netflix (NFLX) still looks the best of the group. (Amazon is part of TheStreet's Growth Seeker portfolio. Alphabet is part of the Action Alerts PLUS portfolio.)
I'm focused on making some incremental buys but continue to find it difficult to be very aggressive. Smart Sand (SND) , which provides sand for fracking, was my Shark Technical Buy last night and is moving nicely toward all-time highs.
BioCryst Pharmaceuticals (BCRX) has a nice-looking "pocket pivot" move on increased volume following an upgrade from JMP Securities and a $10 target.
Oclaro (OCLR) has been on my radar for quite a while and is perking up today on an article in Investors Business Daily that mentions it may be a takeover target of Finisar (FNSR) , which announced an offering last night.
The indices are rolling over a bit as I write, which means this Dow 20,000 talk may never come to an end. I'll be looking for some entries later in the day.