Today, Bruce Campbell (2) commented about whether QIPT-X, REKR-Q, YERB.U-X, CAE-T, BTE-T, GDNP-X, TGIF-CN, STLC-T, ACB-T, SHOP-T, LSPD-T, LSPD-T, VRNO-CSE, SGMD-X, NVEI-T, TWM-T, AVN-X, DOL-T, NWE-N, ETL-X, EMPS-CSE, WELL-T, EXRO-X are stocks to buy or sell.
The intermediate- and longer-term charts show that's still the case. In the very short term, utilities and financials have recovered slightly, but it's hard to say whether that's a new trend or just a correction we're going through. People are concerned about stability and are looking for something with a higher, safer yield.
The data doesn't show a downturn, but that could change so he monitors it closely. We're in that historical season where markets see a lot of chop, which coincides with both the calendar and the US presidential cycle. Everything is still intact. Technical levels haven't broken down. His thesis remains that this is a correction inside the upward-trending market.
This could change if all of sudden we see some of those levels break and a leadership change as well.
Whenever the market gets a little uneasy, he definitely sees it in the small caps as well. They tend to be more volatile and liquidity dries up, so they can really get pushed around. Just as with the regular market, they tend to be fairly strong from October - end of May. He hasn't seen that leadership yet in either Canada or the US. The Russell 2000 has been in a trading band for the better part of this year; if it does break out, it will probably be pretty significant.