The markets continue to show sector specific trading. The Dow is trading positive Friday the NASDAQ is trading negative. That has been the nature of the market for the past four weeks. The evaluation of each individual stock chart becomes the important factor. Stay predominantly long but close out long positions that are showing profit-taking. There are numerous new positions/sectors showing strength.
The market trend is now remaining consistent enough that more emphasis should be placed upon individual stocks/sectors. The whole uptrend has been accented as a stock/sector specific market. Fortunately, this makes the utilization of candlestick scans very profitable. The scans can pinpoint which stocks have the best chart patterns without a great concern for the market direction in general.