After a week of gains we were due for some consolidation and fortunately it was very mild. We made the right call yesterday in not adding any new positions. The A/D line on the small caps today was 2:1 negative. With the tariff headlines spiking again and a long three day weekend ahead, there is a better than even chance for more profit taking on Friday. Even if it does not occur, I would rather not jump into new positions ahead of the weekend with currency issues in more than one country and China likely to kick back on the $200 billion in tariffs.
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