The S&P 500 is still trading within its trading range. The QQQQs are somewhat stronger than the SPY. IWM – iShares Russell 2000 Index the one to watch for small cap strength is not giving too many hints as far as risk appetite coming back into the markets is concerned. A few China related momentum stocks are looking great and are trading at all time highs. Some started breaking out today. LIWA – Lihua International a recent addition to my public list would be a good example.
Apart from a few select stocks I don’t see much I am interested in right now. The market is not showing its hand yet. I prefer to stay cautious instead of churning my account and mental capital. Here’s the chart of the S&P 500 Index. Looks like we could bounce a bit from these levels.
Up-to-date S&p 500 Chart on my public list.
LIWA – Linhua International a Chinese copper and aluminum play is an example for a China momentum stock breaking out today.
Up-to-date LIWA Linhua International Chart on my public list.
Have a great evening!
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