Overall, the market seems to be a bit overextended but nothing is screaming “pullback”. If we continue to grind higher, this means that in general, we’ll be seeing slower upward movement as we pass through resistance. This is also not the safest place to be since bad news or other outside factors can really shake up the market. Things move faster downward than upward in these conditions. Futures are slightly down as I type so we could be pulling back slightly off of resistance.

Earning season is in full swing. Be sure to check this before you buy because buying just before earnings can be very painful if you’re wrong and buying just after good earnings is usually chasing. Many of the stocks that have showed up on my momentum scanner are coming out of good earnings. I’m not considering these because I feel that in most cases, once earnings hit, the result is public and the good news is baked in.

I’m watching SAND (Sandstorm Gold Ltd) for a good entry this week. There is a previous high at $5.64 from January 2018 (Current price: $5.52) but I expect this to be broken and I don’t see much above it so maybe it will make a new high. If it drops, there is fairly solid support around $4.70, so I’m mostly interested in it here. If it doesn’t drop, It’s a coin toss as to if I buy in. Note that the RSI is quite high on this stock. My plan is to move more quickly in/out of this one. If I can make 3% and move on to something else, I’ll be happy.