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Mark Minervini: Leaders extended, major indexes may face near-term pressure and consolidation

Mark Minervini: Leaders extended, major indexes may face near-term pressure and consolidation
Leaders extended, consolidation likely in indexes

Mark Minervini, Independent Trader and Educator. He is known for running his trading strategy and educational platform, Minervini Private Access at Self-employed, cautioned that many leaders in the market are currently extended.

Minervini added that with fresh distribution appearing in major indexes, there are increased odds of near-term pressure and a period of consolidation.

Minervini previously described the market as remaining in a bear phase, with major averages trading below the 200-day moving average, according to a recent note. He has also advised traders to maintain simplicity in their approach, emphasizing breakouts and early loss-cutting as keys to effective risk management in a prior update. These comments align with his continued emphasis on discipline amid market volatility.

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