Markets

After yesterday's pullback - What are traders waiting for?

Exit

From the open to the close, stocks pulled way back yesterday, which is a concern considering the proximity the major indexes have with technical resistance levels. Its not time to exit just yet but we need to think through the issues appearing in the short term that could play spoiler to the current rally.

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What we are watching now is the emerging correlations. Bonds, gold, stocks and commodities tend to follow each other like they have over the last few days when there are very high levels of uncertainty. This presents some interesting entry opportunities following a breakout but it also makes sense to use the existing pause as an opportunity to apply some risk control to outstanding long positions.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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