Stocks are taking a breather after a nearly 4 week rally off the December lows.
The S&P 500 (SPY) has retraced nearly 50 percent of its losses (similar to other major stock indices).
Under the surface, there are several stocks and sectors setting up for tradable moves. Here are a few highlights from today’s video:
– Rally Pauses as Markets Remain Overbought in the Near-Term
– Semiconductors Continue to Underperform
– Sentiment Indicators Ease Further From Extreme Fear
Stock Market Today Video – January 23, 2019
Twitter: @DanRusso_CMT
Author may have a position in mentioned securities at the time of publication. Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.
