Broad Markets As I've already posted extensive analysis on the equity markets as well as various commodities, sectors & precious metals over the past week I figured that I'd keep it simple & share what I'm most focused on with the stock market at this time. At the risk of over-simplifying something that is quite [...]
In the first chart below which was posted on Monday, I highlighted the fact that any new high on IBB (Nasdaq Biotech ETF) soon would be a divergent high & so far, that is the case. Yesterday, IBB attempted to breakout above the 303ish resistance level which has capped all advances going back to the [...]
In response to the previous update on QQQ & the market leading FAAMG stocks, member @natdicarlo posted the following comment: Thanks Randy, IBB appears to be breaking out. Any thoughts on that as it might have implications on QQQ. Although biotechs don't have nearly as much of a weighting in the Nasdaq 100 (QQQ) as [...]
A recap of today's price action & recent technical developments in the US equity markets (SPY, QQQ & IWM) as well as a few key sectors ETFs such as XLK (technology), XBI & IBB (biotechs), SMH, XSD & SOXX (semiconductors) as well as the volatility indexes ($VIX & $VXN).
Fundamental & technical analysis on a few key sectors including the automakers, biotechnology, semiconductors, technology as well as the volatility indexes. The following stocks & sector ETFs are covered in this order: F, GM, TSLA, TM, XBI, IBB, PBE, SMH, XSD, SOXX, XLK, TECS, $VIX & $VXN.
XBI (Biotech ETF) has broken below this 5 month uptrend line, triggering a sell signal while the PPO remains below the zero line, indicating a bearish trend. I am holding off from adding XBI or any of the other biotech ETFs as official trade ideas for now, preferring to see additional bearish confirmation in the [...]
Technical analysis on the US stock market via SPY, QQQ & IWM as well as GLD, GDX, SMH, XSD, SOXX, XLF & XBI.