I See Some Strength… But It's Almost Too Quiet
By Gianni Di Poce
The fireworks seem to be over, for now at least. There are still some underlying issues in the market, some uncertainty. A look at median spreads shows they're some of the widest in years right now, which says liquidity is low and suggests market-makers are cautious. No surprises there.
That said, there are some real bright spots in this tape; technology and semiconductors are showing some strength, and, as I've said before, it's tough to marshall the bulls if tech isn't leading.
The trillion-dollar question is whether this near-term trend can last. If it can, then the bulls may be able to capitalize and make a run higher.
If not… look for volatility to surge again.
In any case, don't try to be a hero in this market. Focus on the setups that are working best.
Take precious metals, for instance. They're exhibiting the cleanest up-trend; the sector sports some of the best-looking individual stocks, too.
There are setups here that work…
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