Resilience - the ability of the market to rise despite negative news, an indicator of market bottoming. The markets resilience will be tested tomorrow, between the earnings news, and warnings after the close, and it being Friday, why would stocks go up? Guess we'll see, but the internals, including the NASDAQ, are looking positive as is the screened stock ratio at 13.6 to 10.6 favoring buying. Risk remains moderate. Now this is an interesting ratio...in this case both the down-trending and the up-trending stocks are getting higher than average volume. This is a stock pickers market where one stays in the stronger stock groups.......
Which remain amazingly the same, biotechs, drugs, healthcare, insurance, REIT's, banks/S&Ls and retailers.
Long: AIG, ACF, BBC, CTAS, ESCM, EXPE, HET, MEDI, SRNA and SNV.
Good Trading!!
Sam
savvy-trader.com |
