LOOKING FOR LEADING STOCKS?
WHY NOT TRY FINDLEADINGSTOCKS.COM?
As of Thursday’s close, the SPX is less than 2% below its all-time high. No question it was an ugly day but a look beneath the hood might suggest it is not as bad as it seems- yet.
Earlier today I was quoted in WSJ’s lead story on Stock Futures. Here
Adam Sarhan, chief executive of New York-Based investment firm Sarhan Capital, said investors have good reason to be on edge, but it’s still not time to start selling out of stocks and moving into safer investments.
“Markets like clarity, and right now, uncertainty reigns on several fronts,” Mr. Sarhan said. “The big question is, are tensions going to escalate after Sunday?”
The other key uncertainty, he said, is if slowing growth in China will derail the global recovery.
But from an investing standpoint, Mr. Sarhan said the U.S. market still looks good. “The risk-on rally [for stocks] is still in play for 2014,” Mr. Sarhan said. “I’ve been telling my clients, we need more damaging evidence to emerge before we determine that this bull run is over.”
“Markets like clarity, and right now, uncertainty reigns on several fronts,” Mr. Sarhan said. “The big question is, are tensions going to escalate after Sunday?”
The other key uncertainty, he said, is if slowing growth in China will derail the global recovery.
But from an investing standpoint, Mr. Sarhan said the U.S. market still looks good. “The risk-on rally [for stocks] is still in play for 2014,” Mr. Sarhan said. “I’ve been telling my clients, we need more damaging evidence to emerge before we determine that this bull run is over.”
The major averages are flirting with important technical levels that must be defended. Watch those levels closely. The next area of support becomes the 50 DMA line (DJIA is already below it).
While the market waits to see what happens this weekend (war or political theater)
Here are 5 important sectors for your review. As you can see, we have yet to see “real” technical damage occur on the surface (major averages) or underneath the surface (leading stocks and leading sectors). Until we see major technical damage emerge, the market deserves the bullish benefit of the doubt. As always, stay tuned!
