Tuesday Market Wrap

{+++} The markets moved higher yet again, averaging anywhere from 1/2 to 3/4%, with the EXCEPTION of the Russell 2000.  The Russell (IWM) showed a crack in the armor yesterday, and it followed through lower again today. The Russell has been on a massive drive higher and it tagged historic highs this year.  We’ll see if this small correction (Russell) is the start of something bigger or if it will carry over to the rest of the indexes or not, but you should keep a close eye on how it trades in the coming days. 50 day moving average support is just below the close today.


I took some profits today on the P&L, so check the page for updates.  I also raised some stops and removed some of the newer names that haven’t triggered because they just weren’t acting right.

By the way, NDAQ (on P&L) gapped down through its stop today, lets watch it tomorrow and make a decision.

See you in the morning, have a great night.


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