A strong washout is always the equivalent to a high dose antibiotic to combat a lingering market infection. This was a heck of a way to start a new quarter but maybe it was for the best. April is normally a good month for the market and maybe we needed one more strong drop to retest the February lows and set the stage for a strong rebound into Q1 earnings. Anyone who was not committed to be long was eliminated today with the 6:1 decliners to advancers and the 4% to 5% declines in stocks and sectors. This was a washout. The S&P futures are up +12 so maybe this was a final dose of a strong antibiotic to eradicate the lingering bout of seller sickness.
New positions are only added on Wednesday and Saturday except in special circumstances.
NEW BULLISH Plays
No New Bullish Plays
NEW BEARISH Plays
No New Bearish Plays