James "Rev Shark" DePorre, a Real Money contributor, is the author of Invest Like a Shark: How a Deaf Guy With No Job and Limited Capital Made a Fortune Investing in the Stock Market. He operates sharkinvesting.com, an interactive online community that serves and educates active investors.
Is this just some routine consolidation after a big run or is it an indicator of further weakness ahead?
I want to see better stock picking and stronger momentum in individual stocks.
The question we should ponder is what are the warning signs the market is starting to undergo a change in trend?
With a friendly Fed, a tight labor market and data like March retail sales, the chances for upside surprises are good.
The current picture of mixed action for a market still very close to its all-time highs is something to watch.
Focus on defense, as news headlines on the Mueller Report and discussion of 'Medicare For All' make stock picking tough.
The biggest negative in the market Wednesday was that the gap-up open was sold very aggressively.
This was a complete surprise to the market and that creates a whole different type of trading dynamic.
There is a bloodbath of selling in medical-related names and severe pressure on cloud-related stocks that have been momentum favorites.
However, soft guidance from Netflix and so-so earnings from IBM are keeping positive sentiment contained.
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