Heavy sell-volume in the S&P 500 as it flirted with testing its 200-day moving average doesn’t bode well for the Bulls.
We’re staying Bears.
While we’ve nibbled a bit on the rally potential of a handful of top Growth Stocks, (LULU), (MELI) and (ULTA), without the confirmation of the broader market it’s all high-risk.
In our weekly commentary posted this morning we made it a point that we wouldn’t get too cerebral as the market struggles to find a trend.
It’s going to break one way or another. Best thing to do is wait to see how the week evolves before jumping to any conclusions.
It’s summer. Try to enjoy yourselves…