Toppy Behavior:
I will state once again that I feel 2025 will be the year of stock picking, against the individual indexes. In this light, some stocks will advance despite a potential soft benchmark. Sure a rising tide lifts all boats, and vice versa, but names that exhibit relative strength should be admired. That being said the Nasdaq continues to trade in a very volatile fashion which is indicative of toppy behavior. My mind will be changed when the very round 20000 number is decisively taken out to the upside. Until then call me skeptical. The rest of this week will see the tech heavyweights REPORT earnings and the Fed tomorrow morning could announce a cut which would give a bid to long-duration assets. My opinion, not advice, is the gap from late last week, which completed the bearish island reversal (after the gap up last Wednesday) will be filled then more softness to follow. Of course, I could be very wrong and PRICE will let me know.