It was a slow start to the market Monday before the buyers rolled out of bed and went to work again.
Small-caps are leading and that is reflected in very strong breadth, with around 4,800 gainers to just 2,100 decliners and. The DJIA is struggling again mainly due to Boeing BA, but the FAANG stocks are looking good and financials (Financial Select Sector SPDR ETF (XLF) ) are moving to the highs of the year.
Some of the momentum movers are becoming extended and I'm seeing profit-taking in names such as Tandem Diabetes Care (TNDM) , Yeti Holdings (YETI) and Aurora Cannabis (ACB) . I have also have sold down some big recent winners I've discussed, such as StoneCo Ltd. (STNE) , HyreCar (HYRE) and a few others.
I'm on alert today for an intraday reversal in the S&P 500. The action reminds me a little of what we had two weeks ago when the market reversed hard following some positive trade headlines. Keep a close eye on those opening lows.
Aurora Cannabis is a holding in TheStreet's Stocks Under $10 portfolio. Click here to learn more about this portfolio, trading ideas and market commentary product.
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