No doubt the market internals turned down, but, November 30th had 737 new lows on the NASDAQ, compare that to 406 today as the NASDAQ made a new low. November 30 saw 231 new lows in the NYSE, while today there was 113 (however the NYSE is not close to a new low).
The screened stock ratio slipped back to 10 to 8 favoring selling. Since the market looks over sold on the interest rate news, we'll be watching for bounces, the watchlist is fairly conservative. Since we suggested selling everything without a buffer before the announcement and the market didn't recover, it is prudent to use "lite" mode Wednesday.
Long: ACDO, ABT, BOW, CHP, LNCR, VTS, PTEN, EMN, MTON and XRAY.
Good Trading!!
Sam
savvy-trader.com |
