It appears stocks are ready to take a short-term breather as the weakening high yield corporate bonds indicate could likely happen in today's overnight trading. Technology and semiconductor intraday reversals seem to agree with this short-term caution.

That makes it justified to take sizable existing profits off the table (at market, which is 3150 currently), and once the exit order is executed, to wait for the next promising setup so as to rejoin the long side of the market at a more opportune time.

Trading position (short-term; futures; our opinion): no positions are justified from the risk-reward perspective.

Thank you.

Monica Kingsley
Stock Trading StrategistSunshine Profits: Analysis. Care. Profits.