After two weeks of solid gains, the market breadth is beginning to fade. Advancing volume was only 59% today and many stocks only had fractional gains of a few cents. Thanksgiving week is typically bullish and that may help extend the gains but next week could be a challenge.
The Russell 2000 small caps have been up for 13 consecutive days. Nothing goes up forever. We know there will be significant profit taking in the very near future. The volume is going to decline sharply over the next two days and that means an increased potential for volatility. I am recommending we hold off on adding new positions for the rest of the week.
NEW BULLISH Plays
No New Bullish Plays
NEW BEARISH Plays
No New Bearish Plays