Oil and oil stocks were the talk of the town yesterday, and there's seem to be some follow through this morning.
We have a lot of stocks extended in the short-term, and they need a little rest to set-up properly. How extended you might be asking, take a look at this chart;
Nasdaq vs. stocks up 25% or more in the last month.
Like every indicator, sometimes it works sometimes it doesn't.
Below is my watchlist for the day, I have an interest in these stocks/ETF's if and only if they go through yesterday's high with a special focus on the miners.
Frank Zorrilla, Registered Advisor In New York. If you need a second opinion, suggestions, and or feedback in regards to the market feel free to reach me at email@example.com or 646-480-7463.
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