|Day Low/High||2.01 / 2.40|
|52 Wk Low/High||1.56 / 7.37|
There is a high level of risk that the market rolls over again, but that risk will be minimized if we have some better chart development in the days ahead.
It's surprisingly strong action in view of the headline risk out of Ukraine and also the likelihood of a very hot CPI number on Thursday.
Tuesday's market isn't offering many opportunities.
This is good action for rebuilding some very badly broken charts.
The gap-up open created an air pocket that many technical traders will be looking to be filled.
Can growth stocks and small-caps bounce back from a drubbing?
And that's going to stick around for a while longer.
I'm working on positioning in front of some earnings reports where the companies report Tuesday after the closing bell.
Stocks with good charts, good fundamentals, and good stories are attracting buyers.
Nervousness about the market helps to create our old friend, 'The Wall of Worry', which we can climb.
I've been very busy making some quick trades.
We have some healthy action out there, and charts are developing well.
The market's big problem is that the giant wave of liquidity that supported this market over the past year has dried up.
The ARK Innovation fund is down and so is the Russell 2000 fund, and many traders are frustrated.
The most oversold stocks are seeing the best bounces.
The Dow is finally starting to close the gap with all the stocks that have been suffering for months, and that is a relief.
There continues to be little energy among stock pickers.
The stock just moved from OTC listing to the Nasdaq and should start to see some institutional interest.