|Day Low/High||2.52 / 2.73|
|52 Wk Low/High||0.88 / 2.59|
A small group of big caps is driving the indices while the bulk of remaining stocks are trading with a negative bias.
Tightening stops, closely watching momentum stocks and considering index shorts as I get more defensive.
The best thing you can do is ignore the macro chatter and just keep looking for stock picks.
We are still in an uptrend -- and even if breadth is problematic, there are no signs that it is time to abandon ship.
There is nothing driving a major market shift, so if you want to be active, focus on individual stocks.
Don't be afraid of stocks just because they are at their highs, because the best stocks often don't rest much.
When the dip buyers disappear intraday, then the action finally can shift.
If the Nasdaq ETF stays in the red, the bears will get some confidence.
Trading volume is lighter than normal and the movement in stocks is complacent.
There is just no logical way to gauge how much further this market can run even when it is technically extended by most measures.
It's hard to predict when momentum will slow, but it could be time to take some profits when the market is as strong as this morning.
Why I like this China-based wealth management firm.
A weak market close would boost the bears, while a strong one would aid bulls.