The averages hit new lows for the two-week correction on Friday. Longs are off the table. Nothing is setting up short-wise in the growth sector due to everything being extended. Some shorts are playable, however they are not in former leading growth segments and thus are not of interest and are not on the Focus List.
For your education only, in this evening's video we look at 11 potential short setups in non-growth areas, and we walk through what I look for in them. Some are more attractive than others as you will see. At this point, we are only interested in shortable growth issues, not cyclicals, as well as inverse ETFs such as SQQQ.
Due to the lengthy divergence - almost 10 months - between the % of NYSE stocks above their 200 ma and the S&P, it is possible we are in the first inning of a new bear market.
To view this evening's video, please click here.