The market internals dropped back to being mixed again, with NASDAQ improving and the NYSE declining. The screened stock ratio turned back down from being very strong, now at 18.7 to 4.8 favoring buying. Due to the decline in the ratio the risk moves up a notch to moderate. If the market heads down tomorrow, I would assume it is just profit taking until we see the screened stock ratio go negative.
Still not much has changed in the strong groups, biotechs, gaming, computer software, medical equipment, restaurants and select retail. We saw no buying in oil issues today.
Longs to watch: CHIR, CPRT, DORL, GIS, MRCY, PDCO, ROST, SYK, UNWR and WLP.
Good Trading!!
Sam
savvy-trader.com |
