Another day where stocks simply remain in a relatively tight range. We simply are in a market where volatility by any measure is not present. Sure, this may change in the future. Now, we simply are not seeing stocks move much day-over-day let along intraday. It is quite boring watching the markets. We do have some nice move in individual names, but the overall market is quite a bore. DIS weighed on the Dow as the index finished lower by a whopping 16bps. Volume ended mixed, but it seems as if this will be par for the course with volume. Our uptrend continues to remain intact. There are some cracks showing, but nothing major to really get concerned. Manage your stops.
We are going to cut this short tonight as there is not a whole lot to talk about. If we begin to see leadership like AMZN breaking down then we may have cause for concern. Massive distribution will need to appear too. Sure, we may get a pullback here as we do need to consolidate gains. However, it does not mean it will crush the overall market. Focus on protecting your capital by keeping your losses small.
We’ll see you back here tomorrow!
