Jobs Report Could Be The Catalyst
Unfortunately stocks didn't move much last week and we are still stuck in the same boat we have been for days. The market is overbought. The rally looks tired. Yet we can't get any profit taking. The jobs report came in less than expected and this could be the needed catalyst to finally spark some profit taking. Our bias remains bullish but a correction would be very healthy for the market and provide us a new entry point. Be patient and let the market come to you.
I added two new candidates to the watch list this weekend so we will be ready when the correction finally shows up.