The market remains positive, but not powerful, with a lot of growth stocks and especially growth indexes and funds still batting with months-old resistance. Big picture, we think the next major move is up and a lot of the leadership of any coming run has already declared itself; indeed, we think we own some of the best names out there. But we’re not pushing the envelope here, as the market continues to deal with uncertainties (including this week’s Middle East tensions and dockworkers strike). We have no changes again tonight, though we’re staying flexible and are looking to add exposure as opportunities arise.

WHAT TO DO NOW: Continue to lean bullish. The market’s overall position remains in a similar position—far more good than bad, though still a few flies in the ointment—so we continue to look to add exposure, but to do so carefully, as many stocks and indexes are battling with resistance. Tonight, we’re going to fill out our position in Flutter Entertainment (FLUT), adding another half-sized stake (5% of the portfolio). We’re also placing Argenx (ARGX) on Hold given its recent action. Our cash position will now stand near 25%.

WHAT TO DO NOW: The market’s selloff this week is accelerating today, once again led by growth stocks. The Nasdaq is fully in re-test mode at this point, and while many stocks are showing some relative strength overall, we remain cautious given the selling with our growth-heavy indicators (Growth Tides, Aggression Index) looking poor. We sold TransMedics (TMDX) in last night’s issue, and today we’re going to cut bait with ProShares Russell 2000 Fund (UWM), which will leave us with around 49% in cash.