Last week, all the major indexes lost ground. The Nasdaq was down 1.2%, the S&P 500 gave up 0.7%, the Dow lost 0.6% and the NYSE composite faltered 0.3%. Tuesday’s move down in higher volume threw the IBD outlook back to “market in correction”. Raise cash, don’t let gains turn into losses, don’t take any loss more than 7-8%, and sit tight until the next uptrend presents itself. Now is not the time to be making new stock purchases.
With the market in correction, none of the watch list stocks can be considered as buy candidates.
/as usual, your mileage may vary, always do your own homework