Market internals improved Monday, but on very low volume. The screened stock ratio turned slightly positive from 8.4 to 3.6 favor selling to 5.1 to 4.0 favoring buying. There wasn't enough volume to make any determination from either indicator and we'll be just sitting back at least until after the 2:15 Fed announcement. I still estimate the market risk as high.
The strong groups remain same, biotechs, banks, real estate, specialized retail, and healthcare. I might add a reminder that over the years, the healthcare and medical stocks tend to beat the market in both bullish and bearish periods.
Longs for Tuesday: ACDO, ACS, AG, CAKE, CECO, CMX, NFB, OCR THC and TRI.
Good Trading!!
Sam
savvy-trader.com |
