To say today was ugly is an understatement. Today the market reversed throwing a curve ball a big league pitcher could turn a hitter into a ballerina with. One question I've asked myself the past two days is, "Is this healthy market behavior?" Is today's action just another day in the market or is today's action a significant day?
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| Curve ball. |
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| Distribution- |
Today's action on the index aside, I have to wonder in a healthy market is it typical for stocks to react as MNST and HLF have? Is this type of action indicative that all is well, or that traders are grasping for straws or bailing hay?
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| MNST |
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| HLF |
Currently we're in the midst of earnings season and there have been hits and misses. One of the most influential hits has been AAPL which carried the NASDAQ to a 2% gain but has since shown a lack of interest gauged by volume and price.
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| AAPL |
My motto continues to be as APPL goes, so goes the market. One stock alone is not going to be the end all of the market but one thing this earning season has shown is that a number of the leaders that have held firm since '09 are being taken to the woodshed one by one and even though AAPL has thus far escaped a drubbing the question remains, "Where is the next wave of leadership coming from?" So far this earnings season that has yet to be answered and that problem is getting noticed.
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