There was little question that the market internals would have decayed more after watching the market today. However, they still remain positive, just significantly weakened. The screened stock ratio dropped to being barely positive at 5.5 to 4.7 favoring buying. Risk remains moderate. However, the ratio may be so close to being negative that I would be very cautious about trading tomorrow.
Strong groups; biotechs, gaming, HMO's, computer software, health insurance, medical equipment, semiconductors and select retail.
Hopefully we have a little more defensive stocks on today's list.
Longs to watch: AJG, BSX, COTT, ENDO, GIS, GTK, HD, MAT, MIMS and TGH.
Good trading!!
Sam
savvy-trader.com |
