Hey, Look! Surprises To The Upside!
Actually, we were expecting higher prices in many of the Market sectors yesterday, so this Green Board that I captured Thursday afternoon was a welcome sight. Let's discuss these GREEN market Sectors and some Stocks.
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Thursday August 31
The General Markets are breaking higher as expected, and the Biotech sector is also acting Bullishly. After reviewing these sectors and the Precious Metals, we'll review some bullish set ups in various Tech and Biotech companies.
AUG 25th - This weekly chart reversal at support was a buy point, so I pointed this out last week, along with some Stocks in this sector.
IBB - The daily chart showed price breaking and holding above the 50sma on Tuesday too.
IBB - And we have strong follow through yesterday, so let's look at a couple of these stocks.
NASDAQ - On August 29th we saw a strong reversal after a drop filled that gap. The timing was right for a dcl too. This became a buy and a break out above the overhead trend line would add confirmation.
NASDAQ - We have the trend line break as of yesterday.
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August 30 – Multibull set ups
SPX- Yesterdays reversal filled a gap and strongly moved higher. It is right against the down trend line, and a push higher above the 50sma and the trend line is a buy if you ask me( I would have taken a chance and bought here). A break higher should indicate that we have a dcl and the markets are done consolidating for now.
