May April and go away? I don’t know about that, but the fear of losing is definitely starting to overwhelm the fear of missing out
3 new all-time highs among stocks that gained 1% or more: GNE AYI CHUY
17 new 52-week highs among stocks that appreciated 1%+ today.
Most of the new 52-week highs closed below their opening prints today, but there were a few that exhibited notable relative strength, which is always worth paying attention to:
StockTwits 50 Highlights
The sell off in growth stocks continued for a third day in a row as money is moving back to perceived safety in Treasuries. Correlation and volatility are naturally rising too. Only two stocks from the St50 list are trading above their Friday’s closing levels,which says a lot about the state of risk appetite or more precisely the lack of it. Only two – $SBUX and $ADBE.
Corrections are a normal stage in every price cycle and they help future market leaders to form bases. There is no reason to be a hero and rush into buying the first dip in your “favorite” stocks. Just wait patiently for new proper setups to form.
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