Trend Following The Stock Market Weekend Review $GDX $ELLI $MXL $QQQ

It's been a very tough stock market for traders who are battling along with the bulls and bears. Friday's action was somewhat encouraging, albeit on lower volume. Lower volume does not show commitment but rather a potential bear market rally. The market rallied due to jawboning of crude cutbacks. Crude flew up and the stock market followed.

What is interesting is that many of the prior leaders are now also failing. REITS are failing and crossing their respective 50 day moving averages.

Uncertainty is the theme for the stock market right now. However we do not walk away from the stock market. We are always building our watchlist.
On my watch list are Ellie Mae ELLI and MaxLinear MXL. Time will tell,however, the sidelines are where I am located at the moment.

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 ...

How did you like this article? Let us know so we can better customize your reading experience.


Leave a comment to automatically be entered into our contest to win a free Echo Show.