Stocks continue to run higher. Investors are ignoring the lack of progress in Europe, which has allowed the major U.S. indices to rally to new six-month highs. Some of the momentum indicators are suggesting the rally is losing steam and could peak soon.
The S&P 500 only gained a single point last week.
We're also facing another heavy week of earnings announcements. Plus we have a busy week of economic data.
I am not in a rush to add new positions if the market is tired and due for a pull back. Thus no new positions tonight. However, we did add four new watch list candidates in tonight's newsletter.
The list below are stocks on my radar screen. They're not trades yet but we could see an entry point in the next few weeks. Keep an eye on them:
WFR, NVDA, ADTN, PSS, NAV, WYNN, CREE, OMX, JCP, HSY, M, JPM