Today was a beautiful spring day to go take a dip. Buy the dip in the market that is. I hate to be redundant, but that is the mode we are in right now.
We saw very nice consolidation today and a nice rally into the close. Now we are hitting another short term over bought spot on the Fast Momentum indicator. You can see on the chart how its topping out. That is good. It means that it needs to head back down to regain some fuel to continue to push the Slow Momentum indicator higher.
The movement by the market remains very broad based. The only areas that are lagging are the "defensive" areas of precious metals, bonds and healthcare/pharma.
Wants some trading ideas? Check out our Top 25 lists and TradeWinds Black Box, which got off to a nice start to the new week.
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