I’m guessing – or maybe hoping! – the market is just moving sideways right now. If that’s true, we should see a bounce next week.
But if I’m wrong and that support breaks? Dow 10K is back on the radar.
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Momentum stocks and sectors are often pooh-poohed. I don’t mind jumping in, though, if the timing is right. And it’s almost right with biotech.
For whatever reason, Adobe Systems (NASDAQ:ADBE) rarely appears on my “buy screen.” It should, as it’s a solid performer that I use every day. I’ll start keeping an eye on it.
Back next week to see if we bounce or have the summertime blues.