The indices aren't doing much Tuesday and breadth is rather poor -- about 3,000 gainers to 4,250 decliners. This is healthy action, though.
After the move Monday some time is needed for short-term players to take profits and for shares to move into the hands of stronger players with more confidence about further upside.
Too often the bears will read too much into minor weakness. That is partially a function of being on the wrong side of the market so often for so long, but it often leads to painful short squeezes for the pessimists.
This is just one of those days where you sit patiently and keep looking for some stocks that have potential if the market puts together another run. I mentioned a few names in my previous post and added some Curaleaf Holdings (CURLF) , which has been forming a nice-looking flag pattern over the past week or so.
The best advice I can give right now is to not worry too much about a market collapse. There is always the chance of some unexpected news, but technical conditions are solid and there is the potential for positive trade news again. The longer the indices hold, the greater the likelihood that "fear of missing out" will drive stocks higher.
If the bears are looking for an argument against this market they are going to have to go with "too much complacency." However, that is a tough way to make a buck.
I'll continue to hunt for some setups and I'll likely be a buyer into the close.