High-Flying Stocks Diverge
Yesterday I mentioned that Tuesday saw a crack in the momentum stocks and this is usually a sign that a short-term pullback is close. Whenever you see the high-flying stocks diverge for the day as they did on Tuesday, the market shortly follows.
Today the market is neutral. There is absolutely no fear in the marketplace as evidenced by yesterday’s small move in VIX. Eventually this fearlessness is going to get clipped (it always does). In the meantime though the bull market is intact and we’ll look to take advantage of a further pullback in the Daily Battle Plan Model Portfolio.
Today’s Potential Opportunities on Further Pullbacks: