The S&P 500 Index may very well be printing fresh all-time highs, yet again, this morning.
But it is doing so with young whippersnappers like DDD FB LNKD P YELP selling off aggressively. NFLX’s attempt to push up through $350, having been a relative outperform of recent high beta sluggishness, has been initially rejected as well. Even 2013 monster stocks like LGF are breaking down further in a major way.
In addition, note the daily chart for solars, below, on their ETF. The recent consolidation looks ripe for a big directional move. Obviously, this morning’s weakness and apparent bear flag on the 20-day moving average implies the move will be lower.
While that is playing out, the older men in the cialis gang are having a ball. BAC C MCD are a few favorites for the mega cap, lower beta crowd.
In other words, let’s see if this rotation sticks. It is always a bit concerning when you see momentum leaders get hit as they are this morning.
Some long ideas I have on watch here: AKS BKW FLS INSM SAVE.
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Teeth!
lol