Market Leaders

There are a number of market leading stocks that are breaking down below their 50-day moving averages. Usually, this is a indication that the market has more correcting to do.

Some of the stocks included in this group are:

• ISRG
• AAPL
• SNDK
• HANS
• QCOM
• PDX
• PWR
• RMD
• FCN

This factor, in addition to the comments I have previously made, are making me more cautious in terms of putting money to work. I suspect that many of these stocks will bounce, and then come back down to form a more durable bottom. It is around that time that I will look to be more aggressive.