Another big gap up at the open day that then spent the rest of the day grinding sideways and lower. The Nasdaq 100 even went negative by the close. There was a lot of rotation with small caps leading in all the sectors that have been underperforming, while the leading sectors such as gold miners and growth stocks took a beating.
So if the market can hold at these levels, then the rotation into the laggards will be a good thing, as it will give the leading stocks a chance to form new bases and the laggards a chance to catch up.
But we'll see what the rest of the week brings.
For the watchlist from Tuesdays scans - ARGX, BLDP, BWXT, BX, CMI, IMVT, ITW, MAXR, OSPN, PCTY, V, ZBRA, ZG
Disclaimer: For educational purpose only. Not investment advice. Seek professional advice from a financial advisor before making any investing decisions.