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The Chartman

Should New Highs Ignite Caution?

By The Chartman FOXBusiness

The Nasdaq just made a new high, and all I’m hearing are complaints! I think making a new high is a good thing, but I certainly can get behind being cautious.

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Sometimes news sounds bad, but when you look at the chart, there’s very little impact. Such is the case with Comcast (CMCSA): the chart looks fine and the stock is a buy on renewed strength.

When did drinking Bud become passé? Well, it shouldn’t matter to investors, as Anheuser Busch Inbev (BUD) is in a steady uptrend. I like it as a buy when it weakens just a bit.

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Back next week to figure out if all those new highs are real or a fakeout!

What do you think?

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