As of mid-day Monday, June 23rd, it appears that the US Stock Market is shrugging off concerns about the United States being drawn further into the war between Israel and Iran. That could certainly change quickly. But, for now, it is a sign of stock market strength.
However, when you look underneath the surface, we still see some signs of weakness.
Ultimately, the lack of participation is concerning.
Sure, some stocks are moving higher. But the vast majority of stocks are still in a downtrend. And that is a problem.
Again, it could change quickly.
Ultimately, we are following our investment management rules. We are taking set-ups that look attractive. But - like always - we are going to maintain our sell stop discipline.
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