Caution Level Rising Fast
It's a good start to the week but it feels like folks stayed up too late last night watching the Academy Awards. It is slow going and small-caps are lagging badly. Breadth is still solid at about 3000 gainers to 2200 decliners but its slipping as the S&P 500 takes out the opening lows.
Overall, it feels like the buyers are afraid of missing out but don't have a high level of conviction. Many folks had a hard time keeping up with the market when it ran up to start the year so there is performance anxiety, which causes chases on a strong open. It's when the bulls are caught in a quick reverse, however, that we start seeing more selling pressure....80 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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