Our review of market conditions shows every major sector overbought. We're looking for overextended bearish stocks in Discretionary, Staples and Energy to sell out of the money call spreads against as stocks reach significant resistance. Our forecast is for the market to meander for a few days until overbought conditions are cleared followed a possible move higher. We, of course, trade what we see not what we think. But if that happens, Tech, Healthcare and Basic Materials Stocks are where we'll look for Classic Bulls to trend trade to new market highs.
Did you take that Lilly trade with us yesterday? Cha-Ching!
Did you take that Lilly trade with us yesterday? Cha-Ching!
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