The Advance-Decline Line Is One of the Worst I Have Seen All Year.

The S&P just hit an all-time high. The advance-decline line is one of the worst I have seen all year.

The Dow fell today. The Russell finished the week unchanged. 

While the S&P and Nasdaq were printing new records, most stocks were going nowhere. 

The breadth underneath this market is ugly. What you are seeing at the index level is being driven by less than a handful of names. Broadcom just became a $2 trillion company. 

Intel exploded 23% today. Nvidia gamma squeezed into the close. The semiconductor ETF just posted its 18th consecutive positive session. 

A few massive stocks are pulling the entire index to new highs while the rest of the market barely moves.

That bifurcation is exactly where I have been trading all week. Not the index. The gaps. And it has been good.

In the video I walk through what I traded this week, what the expected move is telling me about next week, and where the low-hanging fruit is right now.

Watch the Weekend Update

To your success,

Don Kaufman

P.S. The SPX traded four million contracts today. Nvidia traded almost seven million. 

When you understand what is moving the volume you understand what is moving the market. It is all in the video.