The thought that we might be in a tradable rally has been diminishing as the days go by. IBD has changed its market view and now sees the market in a correction.
We were very overbought and we worked that condition off over the last few days.
However, stocks aren't acting right. The rally was being led by laggard stocks on low volume. Breakouts were failing left and right. There was no real leadership. APOL's action yesterday convinced me to step aside completely.
We may need to wait until April. We'll see.
Subscribe to:
Post Comments (Atom)
0 comments:
Post a Comment