Start of a new decline?

The market finished near its lows today, on slightly higher volume. Even if you adjust Friday's holiday volume levels, today still looks like a distribution day. But that doesn't mean the current uptrend is over. I think that the market needs a breather. And even if the market holds up this week due to month-end, it could experience more of a correction in early December.

But strong stocks could continue to do well, even if the major indexes languish. Today you can look at OXPS, SNDK, AAPL, and HANS as examples of strong, standout stocks. I would look at recent leading stocks to watch how they consolidate, and also look for new potential breakouts. It's still early to call, but a near-term correction could set the market up for another push higher into year-end-- a true Santa Claus rally.

Have a great night-