Is the Rally Tired or Just Resting?
At this point every day there isn't a correction it's another victory for the bulls. The market has been able to maintain its gains. However, there seems to be more and more caution among investors. We had a lot of good news last week both economic and corporate and yet the market struggled to make new highs. Stocks should have traded much, much higher. The fact that they didn't suggest the rally may be getting tired. Or it's just a lack of buyers with so many professionals on Wall Street still on vacation and planning a long, Labor Day weekend.
The market may not be correcting but a few individual stocks are. We continue to add to the watch list and almost weekly we see candidates get triggered. Instead of adding new plays tonight I've added two new candidates to the watch list: BJS and CRS.