Random Thoughts

The market was soft on Monday. This action has the Ps and Quack stalling short of their prior multi-year highs. These indices are beginning to take on a double top appearance. As mentioned recently, I would have much preferred a breakout to new highs first and then a correction.

As usual, take things one day at a time and avoid any big picture predictions.

So far, most sectors remain in solid uptrends and have only pulled back at worst.

However, in light of the fact that the market is losing steam, you might want to focus mostly on commodity related areas since they can trade contra to the overall market.

Futures are getting whacked pre-market so regardless of what you do, make sure you wait for entries. And, as usual, practice proper money management on existing positions.

Click here to watch today's Market in a Minute.

Best of luck with your trading today!

Dave
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Expert swing trader Dave Landry comments on the charts for the major markets, indexes and sectors for the upcoming trading day in his daily one-minute video.

Make sure your sound is turned up. A new browser window will open and the video will begin playing within a few seconds.

Click here to watch today's Market in a Minute.



You can contact Dave Landry by email at dave@davelandry.com or visit his website DaveLandry.com.