Intermediate-Term Uptrend Cracks
September 21, 2020
Today’s weakness cracked the market’s intermediate-term uptrend, though because we’ve been cautious for a while, we’re not changing our overall viewpoint—you should be holding some cash and going slow as the market and leaders work through this correction. That said, we do see some rays of light, including some former leaders finding support and many stocks that are taking the market’s downturn in stride, so some nibbling here or there is fine (preferably on dips).
This week’s list has many of those resilient names, though most are volatile with the market. Our Top Pick is a biotech outfit with a big recent catalyst.