Market Pukes
Stocks continue to struggle as strong early gains evaporated late Thursday. Trading volume picked up as the big money continues to harvest capital. The gains, and declines, were pretty well spread across the board. Today’s action didn’t shed any new light. We’re still stuck – void of any rally or correction. Some leading stocks are holding gains or consolidations, but others are falling apart (GPRO, MBLY, NOAH, etc.). Technology and biotech indexes still indicate that we aren’t breaking down yet. Perhaps we are just in the pause that refreshes. If we turn higher from here, it certainly would appear to be a normal pullback.
My allocation accounts remain in IWM, which was outperforming at one point today.
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