The Dow is making new all-time highs and the Russell 2000 is at the highs of this move. The questions that arise are clear.
“Where is the Nasdaq?”
“What doesn’t agree?”
“Are we missing something?”
I think something stinks. And I think we are going to find out what it is soon enough. I am looking for stocks to correct and to do so pretty soon.
Consider buying some inexpensive downside protection and look to have some cash on hand so that you can take advantage of the discounted prices. When I say correction, I mean that we will revisit the election lows at a minimum. That would take the S&P 500 Futures (ES) down to 2028 and the Nasdaq 100 Futures (NQ) down to 4558.