Tuesday's market was pretty ho-hum. Just what we like to see after a big run up. In fact don't be surprised to see a bit more of this as the market digests its big gains and starts to build some support as the indexes are perched above their 50 day moving averages. This will be very welcome change from the gut wrenching roller coaster of the past weeks.
Our momentum indicators are all looking healthy. Our fast momentum may be getting a touch frothy, so don't be surprised to see a down day in the market to work off some of the excess. For now, the path of least resistance is up, so plan your trades accordingly.
Techs continue to lead the way, however as a sector they are still getting healthy and are not yet in the positive momentum zone. Today we saw four sectors move from neutral to positive TradeWinds - real estate (IYR), Transportation (IYT), Biotechs (BBH) and consumer staples (XLP).
Check out other stocks and ETF's that are moving in our Top 25 Lists and TradeWinds Black Box.
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