A Look On The Lower Time Frame
When I warned that the markets would start the week with a gap up, and not to chase into that gap, I felt like we’d find buyers below.
Despite failed strength to start the week, here’s how the trend continues to develop on the lower time frame…
We’ve found a little footing mid-week, which is what I had in mind.
It’s important to note that tech stocks… mainly F.A.N.G and the momentum crowd, rolled a few days ahead of the indices.
This is the fourth time since the election that this has happened. Each time it has, the Trump Trade has heated up. Those stocks include banks, materials, infrastructure, small caps, credit, etc. This rotation has lasted about a month (give or take) on each of these last occurrences.
I spent the day developing a watchlist for next week. Here’s the list.