It’s a sea of red, as headlines move the market back and forth. Market leaders are an eclectic mix with a spring presence of retailers and niches of the market that benefit from lower rates, including home builders.

Mag-Seven (MAGS) continue to come under fire. This year, good news has been skeptical news and bad news has been the end of the world. 

Expect that this is not the end of the world, and most of these names are going from “buys’ to “screaming buys,” but how do they put on the brakes first? If MAGS holds above 200-day, and gets traction, there will be big money-making trades.

It is clear these names must make a stand soon, but it’s also clear this is computer-and-emotional trading.

PE ratios have come down a lot. I am more of a fan of PEG ratios which are still considered high, except Nvidia (NVDA).

The Street is now predicting three rate cuts this year. That still is not offering relief or incentivizing would-be-buyers to step up to the plate.

The market is becoming a coiled spring.

It is not a fun process, but when you get positioned the right way, it can be hugely profitable.