Same old story for the NASDAQ as the index hit another all-time high. Volume ended the day mixed with the NASDAQ seeing its volume rise day over day. The indexes continue to be a bore with volatility continuing to remain non-existent. Whether it is complacency or people giving up shorting this market we simply are not seeing volatility. Many will think this is a negative, but don’t be so closed minded and think it is bearish. How many have been left behind in this market? Plenty of stocks continue to look solid and continue to push forward. We have no clue if geopolitical risks will take down the market or not. All we know is we remain in an uptrend have our stops in place in case the market turns south. No need to be a hero in this market.
Perhaps a developing story and one that is not really being talked about is the dollar moving lower against the Euro and Pound. A falling dollar certainly helps exports and could be fueling some growth. Let’s not get too excited. We are deep into this recovery and odds continue to increase we see some sort of economic slowdown. The Fed IS raising rates and could potentially stop rolling over maturities as soon as this fall. The Stock Market isn’t pricing in anything yet. Price will dictate our actions, but it will certainly be interesting how the rest of this year pans out.
Continue to grind with this market. Cut your losses short and ride those winners. Do not get fancy. Keep it simple and ride this long wave higher.
