Slowly Finding Themselves Trapped

Considering the daily grind higher we have seen in markets, coupled with many under-watched stocks and sectors basing tightly and attempting upside breakouts, a pertinent issues is whether bears who bet on resistance acting as a brick wall are slowly finding themselves trapped. 

Case in point: The S&P 500 Index is making fresh multi-quarter highs today, breaking its pattern of lows price highs dating back to last summer. Clearly, the potential for a false breakout (or "bull trap") is viable, for a variety of reasons. 

But with the VIX ETFs continuing their daily decay, so to speak, my focus is on those under-the-radar stocks which are acting better and better, with the potential for lucrative M&A activity in the tech sector, for example. 

Biotechs as a whole are lagging today, leadership could be better among the large Nasdaq names, and Goldman is, once again, red. However, that evidence alone has been rendered insufficient, coupled with a strong Japanese Yen in 2016, to embrace the bear case with open arms. 

In my Midday Video for Members, I will run through an updated and focused list of individual stocks acting better.