Despite the weak close Wednesday, the market internals continue to look strong. The screened stock ratio did weaken some, but at 13.1 to 3.8 favoring buying, it still looks good. But because the direction of the ratio reversed, I'd estimate risk has raised a notch to moderate. Also, I'm somewhat concerned at how much the companies rotated names in the screening, you notice there are very few repeats from yesterday.
The strong groups don't change fast, so they remain as they have the last few days. Energy stocks showed up in large numbers when I ran the screening and are worth keeping an eye on today.
Longs to watch: ARXX, BJ, BOBJ, CTX, CYTC, LLL, NE, PDS, STE and TOO.
Good Trading!!
Sam
savvy-trader.com |
