We stated on radio yesterday that we thought we were hitting a short term wall. This was based on sentiment going coast to coast but also lots of tails to the downside yesterday off of very extended short-term conditions. We must tell you a pullback/correction/sitting would be terrific at this point. It sets things up better, pulls in things better and gets the bulls a little worried.
At his juncture, we do not believe any pullback would be troublesome but more controlled. Of course, that can always change and will let you know. There are a bunch of names that had strong gaps and moves off of earnings and will be watching them to see how they act in here.
Gaps this morning…AZO with a big gap even though sales flat. THC, DDS, HTZ, MOS and MNK are up. HD not helping the cause down over $6…a Dow name. Also, TREE, MEDP, SHAK are down.