All the indexes were down or flat last week on low holiday volume. The Nasdaq slid 0.4%, the NYSE gave up 0.2%, the Dow backed up 0.1%, and the S&P 500 was unchanged. The IBD outlook remains at “uptrend under pressure”.
Although, with the market uptrend under pressure, it’s not the best time to be making new stock purchases, there is one watch list stock that is in a proper buy range this week. Last week, MELI, currently trading at $48.59, broke out of a three weeks tight pattern and is still within 5% of its $47.86 buy point.
/as usual, your mileage may vary, always do your own homework