|Day Low/High||191.00 / 217.78|
|52 Wk Low/High||102.35 / 289.51|
We had a technical breakdown on Tuesday, an energetic recovery on Wednesday and now things are breaking down again.
It's hard to be too negative considering the speculative action today.
There is no direct correlation between news events and market movement.
My game plan is to target a few of the big-cap momentum names that I feel have the best growth and valuation.
When there is no real worry, stocks can keep on running, but the rampage in the Nasdaq 100 is not unlike frothy action of the past.
The normal chart patterns don't operate like they have in the past.
Good trading requires a combination of quick action and patience.
Historically, the day before a holiday often has a positive bias, but the algos have killed emotion.
Here's what I'm trading today amid the 'flat with a positive tone' action.
Action runs counter to pattern, leaving market players wondering what to do.
Despite the good action in the indices, I'm not putting much money to work.
After some dreary action on Thursday and Friday that had the bears feeling a bit more confident, it is the bulls turn to take control today.
Find the individual stocks that are moving and focus on them, as the indices are irrelevant until they can put together a sustained trend.
Recent pattern has been weak mornings, strong afternoons.
The company is trying hard to make its various products for marketing and advertising pros work well together, as well as with offerings from peers.