Let's take a look at the charts and indicators.
It might not be a bad idea to move toward some conservative names such as PG, MDLZ and PEP.
We could see an important breakout for WMT shares Thursday or Friday.
It is helpful to understand this phenomenon so that you don't spin your wheels trying to fight it.
My better bet will remain on the cloud until the direction that global business has to move toward changes fundamentally.
The banks and small caps mostly sat out the rally, but the good news was the number of stocks making new lows was about half of what we saw on Monday.
Let's visit with the charts and indicators to see how things are shaping up today.
The stock has had a good run, but some recent chart developments are worth pointing out.
With the stock trading at all-time highs, I think optimism is overenthusiastic.
I have no idea whether IBM is in the process of a fundamental turnaround, but this point-and-figure price target has my attention.