One-day Selloff?

First off, I went back and added the graphs to yesterday's post. Thanks.

The market is getting a small bid in early trading. Semis, brokers, and housing stocks are all strong. Retailers are a bit weak, as are energy stocks on lower oil prices.

Oil and gold are both lower, and bond yields are lower as well (4.81%). That is moving the yield curve into further inversion, an environment that does not usually coincide with economic strength. This one bears watching. A chart of the 10-year yield does not paint a bullish picture, unless the Fed is going to cut rates in the near future.

After five straight up days last week, it seems everyone is out with skeptical comments on this rally continuing. So was yesterday's selloff a one-day event, or will more weakness surface soon? If we take out last week's highs, it could spark some additional short covering.

I'll be back with my favorite stock setup and sector play in a bit--
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