Industrials and Banks are strong, most of tech is weak. Oils are going higher, but I don’t feel like chasing. The Dow 30 is being dragged higher by its short hairs, but the weakness is just underneath the surface.
Perhaps this is a rotation and we are to deal with it — become indexFAGS and buy MMM — waste our lives away. Maybe tech is finished and all of the high growth stuff is now a waste of time.
OR, this tape sucks and we’re on the verge of spilling over and canceling the rally.
I’m still bullish and one day isn’t gonna stop me. But I think I’ll leave the BUD sale in cash for now. I have a few errands to run an for the love of God I hope the tape improves by the time I get back. Frankly speaking, a market without small cap participation isn’t a market one can trust.
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Was weak.