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The fundamentals are clear. The bull market is still in place given the solid health of the economy and earnings growth. And the still ultra-low bond rates say that stocks are still the better investment bargain.
But the technicals are negative in the short run. We have already broken below the 50 day moving average and now testing the 100 day at 2418. Likely at this stage we need to touch 2400 before stocks can resurrect. Maybe even down to the 200 day moving average at 2350.
This is a healthy and natural aspect of the stock market. There will be periods of profit taking to remind investors that gravity does affect stock prices as well...you just can't keep floating higher and higher forever.
Use these periods to reassess the quality of the stocks in your possession. How many of them are top rated according to the Zacks Rank, Style Scores and Industry Rank? Those that don't make the grade should be pruned to make way for stocks with top ratings and thus more upside potential.
As you know each of these ratings are available for free on our quote pages every day. Even better, set up a free portfolio tracker so you can get a daily update of our ratings. This is the best way to get timely sell signals before it's too late.
Zacks is now revealing its most compelling stocks that are priced under $10 per share. Each is a high-quality company with outstanding prospects for gains of 2X, 3X, and even more.
Strong earnings growth plus other Zacks' indicators mark our rare Under $10s for sustained growth. Look into them today, and then ride the potential profits high and long.
Investors' pessimistic stance continued for the banking stocks over the last five trading days. Inflation woes and uncertainty related to implementation of proposed policy changes dominated the headlines. Read More »
When it comes to valuation metrics, though P/E and P/S are the first choices, the P/B ratio is also emerging as a convenient tool for identifying low-priced stocks that have high-growth prospects. Read More »
Use the Zacks Mutual Fund Rank, a quantitative ratings system designed to help you find the best funds to beat the market. See which ones to buy, which to sell and track your favorite mutual fund family.