Yes the Dow just hit a new record high, that said the Russell 2000 is off 6% from its recent high. In other words a few big companies are attracting buyers but the broader market is weak. Since 2010 there has been 9 incidents with the broad market Russell 2000 off more than 10% but in every case so was the S&P 500 off at least 10%. It been more than a decade since a divergence of this nature has happened. Some say this is healthy in that investors are turning away from the super over priced little stocks and placing there bets on the safer less over valued names. Generally thought a lack of faith spreads to the whole market eventually.
The U.S. dollar gained some strength and treasury yields also were strong, both these are generally not the best environment for equities.
Most of the charts I drew last week remain on the same course, the NASDAQ is weaker and the NYSE is stronger, as I said, and there is little new to say.
Tripadvisor continues look like it is in an upward bounce.
Enbridge has retraced after a long steady climb up
Other Canadian pipelines remain strong such as Pembina Pipeline.
Energy has sold off in recent days and as I mentioned you would be chasing New Vista energy if you got in two weeks ago, and sure enough profit taking has hit the energy stocks.
Ok here is a flyer if you really wana take a chance but don't bet the farm on this puppy. Under Armour just hit a nice double bottom off support, also rising on balance volume... I bought a little bit. . .