Modest Distribution on the S&P 500 and Dow is playing into our Buyer’s Caution bias.
We’re taking a recent boost in volume coupled with mostly sideways action as a sign that the rally is finding it harder to continue.
This type of grinding often sets the stage for a pullback, where we’ll gauge its potential of being subtle vs. a more significant correction.
We’re very eager to buy some of the hotter Growth Stocks out there at more reasonable prices. The market has been extended for some time now, testing the patience of wanting buyers like ourselves.