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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.