S&P Near Record Highs but Could Use a Few Days' Rest
"The policy of being too cautious is the greatest risk of all."- J. Nehru
NEW YORK (TheStreet) -- A quieter Wednesday as stocks took a bit of a rest after a strong push.
Dips are to be bought since it's working for now, as we saw when the Fed minutes were released today.
Read More: Warren Buffett's Top 10 Dividend Stocks
A quick dip was seen as the initial release came, but there was nothing unexpected or new and markets and stocks snapped back very quickly.
Almost all my recent buy points are still valid and should trigger within a few days after a little rest here as we blow off some of the overbought reading we are seeing.
All in all, markets and stocks are acting great!
S&P 500 SPDR Index ETF (SPY) is at highs now and could use a little rest but that doesn't mean it will come for sure.
Nasdaq (QQQ) is still leading and not showing any sign s of a top so all systems remain a go.
Have a great summer evening and enjoy this August strength.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts