Trade management is important right now.
There was a story almost entirely missed by the media on Wednesday. The Treasury Department announced a tapering of its own ahead of the Fed's policy statement.
The charts of the Russell, S&P 500 and Nasdaq are notably different right now.
There is some choppy action, but that isn't unusual in front of the Fed.
Participation remains selective.
The volatility on a day like this isn't indicative of anything fundamental.
To me this looks like just a temporary reset and not a failed breakout.
How far behind the large-cap indexes the S&P 400 and S&P 600 really are is astounding.
Stay focused on stock picking, sector strength, and themes as the Russell 2000 works to build on a breakout move.
While labor shortages are a short-term problem for Amazon, Microsoft thinks they could be an opportunity.