What to Do If You Missed Last Week's Stock Rally

All of the major indexes posted strong gains last week. The S&P 500, for example, was up almost 4%. And the market's proverbial "rubber band" went from overstretched to the downside to overstretched to the upside in just one week. So even though I still expect stocks to work even higher over the next few weeks, the market is too overbought for traders to jump into right here. It's a far better idea to wait for at least a modest pullback.