Bout Time

Dow: -112.58…
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.