For S&P 500, a Weak Quiet Monday as Traders Trickle Back In
"It is better to average up than to average down." -- Dickson G. Watts
NEW YORK (TheStreet) -- This has been a Monday to forget for sure.
Weakness across the board is not something we're used to. But it was relatively subdued as it seemed many people remained away on holidays or just don't yet have their head in the game after taking last week off.
If recent history is any guide at all, investors should buy on this small dip.SABMiller to Sell Stake in South African Hotel and Casino Operator Apple Well On Its Way to Absolutely Devastating Microsoft 5 Worst U.S. Airlines of All Time Alcoa Stock Is Flying, With Landing Gear Nowhere in Sight Earnings season kicks off again Tuesday evening, so some good moves are definitely on the way. But we've got to be careful.
With the fast-moving leading stocks that I like to trade, I rarely hold them over earnings. But they can be great buys right after or shortly after earnings are released -- so we have to be ready.
The new few weeks should be good and fun! Let's dig into the charts and see what damage occurred today on the S&P 500 SPDR (SPY). The S&P 500 is fine, as long as it remains above $196. We can't go up every day, so today is fine. There is no damage or worry that the trend higher has changed for the S&P 500 chart tonight. Enjoy your evening. At the time of publication, the author held no positions in any of the stocks mentioned. Follow @iTraderz This article represents the opinion of a contributor and not necessarily that of TheStreet or its editorial staff.
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