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Tuesday, May 15, 2018

Market Alert - To the Close

The financial stations are focusing on the DJ30 256 point (1%) drop with NASDAQ down 1% as well, SP500 -0.93%. Lions, tigers and bears, oh my.

RUTX is of 0.05%. SP400 -0.38%. The flip of Monday that saw small and midcaps lag. Now they are showing relative strength. They have been the leaders in the move.

Then there are some very good pullbacks. ULTI, VMW, NOW, DATA, PANW, VEEV, AKAM, FLIR, WDAY -- these are not bad. No, these are setting up just as we wanted. China stocks working well.

Do you move in today? You can, and if the market gaps higher you have great entries. We typically prefer to see the next move start upside off the doji we are seeing. A doji is a signal change may be coming. In 98% of the cases it needs confirmation from the move. Thus we are more or less content to let them test and be a bit patient.


Jon Johnson, Chief Market Strategist
InvestmentHouse.com
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