Stocks Are At New Highs However Leaders Are Not Leading

Consultant at Abraham Trading Consultants • Dec 30, 2014 at 4:32 AM EST

In a healthy stock market situation you would like to see stocks hitting new highs with leading stocks powering the way.

In a healthy stock market situation you would like to see stocks hitting new highs with leading stocks powering the way. However this is not the situation. More so we have 7 distribution days weighing heavy on the stock market. The leading stocks are not providing any substantial returns. This can be inferred either as just a holiday lull or something more ominous after a 5 year+ stock market run. On the positive side the stock market did not react negatively to the news out of Greece.

There were a couple of interesting IPO breakouts today however, like XENE, NEWR and HDP.

Trade with a plan….

Disclosure:

The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I may hold positions in these stocks mentioned in the blog.

Past performance is not necessarily indicative of future performance. The risk of loss in trading futures contracts, commodity options or forex can be substantial, and therefore investors should understand the risks involved in taking leveraged positions and must assume responsibility for the risks associated with such investments and for their results. You should carefully consider whether such trading is suitable for you in light of your circumstances and financial resources.