|Day Low/High||5.50 / 5.75|
|52 Wk Low/High||0.55 / 5.38|
Trading will continue to slow as we approach the long weekend.
I've made a few buys but there just isn't much appetite for chasing strength right now.
I'm looking for entries on pullbacks, but we may need to get past economic news before trading heats up.
The biggest negative is that bonds are weak as inflationary fears are bubbling up again.
I'm not convinced that all the stocks that have been pounded this week have bottomed.
Here's where I would put my stop if I were holding shares of this FinTech.
It is nice to see the broad selling pressure that was weighing on small-caps for the past month start to lift.
One group seeing some momentum today is bitcoin.
Money is rotating back into the FATMAAN names and the hot sectors are struggling.
The good news is that the number of stocks near intraday highs is expanding rather than contracting so far.
Traders have to move very quickly to stay ahead of the game.
The stronger the economy, the better it is for earnings, but more likely it will pressure multiples as interest rates rise.
I believe that the corrective action of the last couple of days should be a platform for some good technical action.
It is important to be selective with your picks, and it is even more important to move quickly.