|Day Low/High||62.01 / 68.63|
|52 Wk Low/High||25.50 / 75.60|
My main focus right now is on stronger defense.
The best thing I see about this market right now is that stock picking matters.
A major theme of late has been the outperformance by post-pandemic names in groups such as biotech.
Technically the late-day selling is not a major negative, as plenty of charts need rest.
It's best to not be dogmatically bullish or bearish.
I see no reason to put much money into longer-term positions right now, but here are some of my biggest positions.
Stocks are not moving in highly correlated action, which favors stock-pickers and technical buyers.
The biotech sector doesn't look anything like a bear market.
If you are using logic, fundamentals or charts, it will be very hard to find a compelling reason to support this action.
Traders have been expecting selling for so long that they're highly sensitive to any bit of it.