Many individuals like to make predictions and like to try their luck with where they think the market will head. I try to avoid that game and simply trade what I see. Though last week was the first week where it "felt" like we may be heading lower it certainly won't be the last. That said, there are still plenty of strong stocks out there and relinquishing gains will not come easy for the bears this go around. As far as indexes go, I'm focusing primarily on the IWM and the NASX as they've been the leaders of late.
INDEXES
STRENGTH STILL REMAINS:
EARNINGS
Two names you want to keep your eye out for tomorrow are PANW and VEEV. PANW has seen UOA as of late and VEEV has been a serial performer as of late.
WEAKNESS POTENTIAL
ULTA & SPLK have been strong until their earnings report last week. Look for signs of continued roll over or for a new base to form.
Click here to listen to my podcast and learn about my theory on the similarities between relationships and the stock market