A pretty slow day today on Wall Street, as stocks started lower, fought back to regain the early losses, and finished mainly flat on the session. It is good to see dip buyers continue to come in and be there - it wasn't like this morning was a major selloff, but the market still bounced back which is a big positive. After the big gains last week, the market had a right to sell off, but a few more days of this type of consolidation would be even better. Volume appears to be quite low today.
Technically, we continue to be in an area where we may consolidate, but there is nothing that says we can't go higher first. The small caps continue to lead (Russell 2000 outperformed today) and that is also always a good sign. Overall, things remain bullish and it certainly appears any dips back to the short-term moving averages are simply buying opportunities (as I mentioned this weekend).
As I continue to do research and decide on a broker to switch to from Scottrade, I remain out of the market - it kind of stinks but I accept it. Right now, I am thinking about Think or Swim, Interactive Brokers, and Trade King. This is not a decision I want to jump into without doing research however, so I am doing my due diligence now to hopefully avoid the type of mess I was put in by Scottrade. When I do pick a broker (, it will still take probably a week or two for things to clear, so I may not be trading myself until the New Year. I do hope, however, you have been able to benefit from my videos - we had some nice winners today.
Both REE (+14%) and CCME (+11%) were highlighted in this weekend's video as potential movers and both obviously acted well today. HTHT is the only one the acted "poorly" and I would take that off any watchlists you may have for the time being. Most of the setups are still valid but you may want to wait for a bit more consolidation in the overall market.
That's about it for today - good luck Tuesday.