GARY ON MONDAY’S GROWTH YONKING!

Monday’s action was a yonking of growth and the average stock while the DOW was up.

While the DOW was up, the a/d was over 2-1 to the negative.

While the DOW was up, new lows outpaced new highs…which is amazing.

While the DOW was up, the Russell 2000 was down the equivalent of 200 DOW points.

Leading growth names were simply blasted. Social media, tech, biotech and the like were shown no mercy. Volume was heavy on many of the moves.

Add Monday to the already weak areas mentioned over the weekend and….NORMALLY…we would tell you something is up…and to be cautious. But in a Fed-induced money printing market, we have seen this before. Not as bad…but we have seen this before. There will be a time where all the weakness does lead to a double-digit correction. Time will tell. Just realize that underneath-the-surface, the market looks more like the Russell than the Dow. If you are invested, it remains a large cap land as small caps are still in a coma.