We’ll likely finish off the week leaving a few things for everyone to point and scoff at ahead of the weekend. Reasons to bet against this market, if you will:
- Biotech non-participation
- 200 day moving average resistance
- Lunar warnings?
- Small Cap non-participation
- Weak Breadth
- Mental Health Issues
The market clearly still favors big cap names here. Quality. Many $IWD components are hitting the 52 week high lists today.
As I mentioned in After Hours with Option Addict, I think this is where $RUT starts to catch up. I like this going into next week.
This will be my last blog as I have a lot of things to do to prepare for my early morning departure.
Can’t wait to meet those of you attending the conference this weekend. It will be a blast.
OA
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Well, we’re gapping up again tomorrow, in a big way. AMZN, GOOG, MSFT up 10%+/10%+/5%+ respectively.