Europe was once again in focus today, Greece specifically, dragging down the market late afternoon. The theme here at STTG the last month has been all about raising cash and maintaining a cautious outlook. This mindset will remain until Europe can either band-aid itself for another 6+ months or the US gets more stimulus.
As far as looking forward, maintaining a list of stocks holding up despite the market weakness is very important as these could easily be leaders should the market turn around. Tonight I have included a chart of Amazon (AMZN) from my MarketSmith account which is one stock on my personal watch list, as an example.