The market misread the narrative that there was a cyclical recovery. That equity spike had to come back to earth.
Stand aside for now.
I wouldn't look at Alkaline Water and Sprouts Farmers Market for a trade, but as speculative buy 'em and forget 'em for the summer.
Has a change in sentiment occurred or is this just normal market volatility?
Prices could break out on the upside for further gains but right now I think a pullback of some degree is in order.
We'll watch the segment specific performance for Digital Media where the key product is the Creative Cloud.
The charts of VAC are mixed.
There is a risk-off theme to the market as news comes in of rising Covid-19 cases in some states, while the Fed has been a ray of light during this crisis.
The Fed couldn't have been more dovish but it's providing a convenient excuse for some 'sell the news' action.
The Fed Chair really isn't concerned about the bubbly action in the stock market.