Once again, we are entering a very split tape as investors sold leaders (tech stocks) and bought laggards for the second straight week. The Nasdaq and Nasdaq 100, which were leading the market for all of 2017, fell last week as the Dow Jones Industrial Average hit a fresh record high. So far, this still…
Something important happened on Friday… when big investors dumped tech stocks (leaders) they bought the laggards! (small-caps and other under-performing sectors such as biotechs, retail, and financials, just to name a few). For now, this points toward rotation and with rotation comes new/emerging opportunities… As they say, follow the money! In the short term,…
The major averages remain exceptionally strong as the market simply refuses to decline in any significant fashion. Comey is set to testify next week and that is the next big wild card for the market. In the short term, last month’s lows are the next level of support to watch, then the 50 DMA line…
The bulls showed up and sent stocks soaring last week helping the S&P 500, Nasdaq Composite and Nasdaq 100 hit fresh record highs. The month ends next week and the end of the month typically, but not always, has a slightly upward bias. One of the hallmarks of a bull market is to see the…