Nasdaq: -42.81... S&P: -14.04...
The market saw the first downtick since the Age of Pericles today and it was long overdue. We could see little more pressure, we'll just have to see. This is a very stubborn bull.
Personally, for now, I think dips will be shallow and buyable.
The financials led things lower by selling off 1.5%. I don't know, but XLF kind of looks like a short term topping bar to me. We'll see if there is more pressure tomorrow. So far its fine.
Technology could also use a little break. XLK squeezed to the top of that beautiful up channel and backed off.
XBI & IBB backed off at resistance today. They needed a rest.
We took some awesome partial gains today as we lightened up a little on the following names: BLUE +35.6%, PTLA +43.3%, AKAO +54.6%, INCY +7.8%
I also tightened up stops today. Here is our March P&L so you can stay updated.
See you in the morning.