The Ps tacked on 1% but so far, they still only appear be retracing their recent leg lower and they still look poised to resume that leg.
The Nasdaq also had a decent day. It is closing in on new multi-year highs.
Ditto for the Rusty. In fact, it’s nearing all-time highs.
Banks overall look poised to make a new leg lower.
Regional Banks have been going straight up as of late.
International Markets and Emerging markets remain in serious downtrends.
Biotech made new highs on Friday.
Bonds continued to implode.
Selected Semis are at new highs.
Gold appears to be resuming its longer-term downtrend.
The list of ups and downs goes on and on.
Considering the above, it’s safe to say that the market is becoming mixed.
So what do we do? When things get conflicted you need to become very very selective. Do you really really like a setup? If so, take it.
Just make sure you wait for entries. That, in and of itself, can often keep you out of trouble.
Futures are strong pre-market.
Best of luck with your trading today!
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