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Editor's Note:

(May 11, 2014)

The markets are little changed from a week ago. The big cap indices are still drifting higher while broader market indices like the NASDAQ and Russell 2000 continue to sink. This divergence is not bullish for the market as a whole.

Meanwhile the situation in Ukraine could flare up again following a vote on an independence referendum in Eastern Ukraine this Sunday (May 11th). The aftermath of this vote could spook investors this coming week. The Ukraine government is not going to accept these votes as legal or binding and violence will likely increase. This could bring Russia across the border.

I am not adding any new trades tonight. We do have multiple watch list candidates that could be triggered this week if they continue to outperform.