A mixed day all in all. NASDAQ stocks were weak yet NYSE, specifically banking stocks, were very strong. The same daily trading pattern also evolved, that is, early weakness followed by strength into the close. I continue to suggest that even though the market is stretched in the near term, this directionless trading with firm closes is positive and builds the foundation for the next leg higher. I’m hesitant to add new positions just at the minute. If we stay put for a week we can look at some more break out trades but I think chasing them here will not have a positive outcome until the broader market is ready to perk up and move higher. Alternately if we do rest with weakness we can start looking for A-B-C setups again.
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Suite 1/ 21 Sleepy hollow Drive
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