After an initial move down to 1496, the S&P 500 regrouped this morning to push back to 1500. The Nasdaq, for a change, is showing relative strength in the green, with AAPL BIDU LNKD TRIP among those having a strong session. Overall, though, the market has a mellow feel to it, likely digesting part of the recent rally.
I am focusing on individual stock selection above all else here, keying off my watchlist inside 12631 to see if the long ideas can stand up and breakout in a market even as it consolidates. I am also mindful that high momentum leaders like DDD are punishing latecomer longs this morning, which is likely a sign that market is seeking a rotation down to some less extended names. At least that is the scenario for which you can be sure bulls are on watch.