Market Update 18.05.2017

S&P500 :

SPYD1

The prior pivots for trading are 2405.77 and 2321.25 on SPX (240.67, 231.50 for SPY ) which are also the highs and lows on weekly chart of the last 3 months on SPX. Don’t get too bearish until SPX broke and hold below 2322.25 .

NASDAQ :

QQQD1        XLKD1

The prior pivots for trading this week are $139.64 and $133.82 on QQQ ($56.13 – $53.63 for XLK) .Bulls should step in at $133.82, if this didn’t happen we may see a move to $130.40 or $129.25 .

Financial : 

XLFD1

Next spot to watch is $22.90 , if bears broke and hold below we can go to $22.50 or we may see more significant downward action to $21.90.

Biotechnology :

IBBD1

As biotech fail to maintain gains and gain power for further upside action in March and May we may see a move down below $286. Don’t get too bearish until market will broke and hold above this level.

 

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03/20 – 03/24 Biotechnology

IBBD1      ibbw

As you see on the weekly and daily chart of IBB, we finaly come out of this large range and close above 300.In long term perspective we may see a move to 341.

But in spite of this, last friday we broke the short term trend line . Anyway, as long as we hold above 294 stay bullish and watch for follow through to clear 303.74 level trading strong stocks. If bears go through 294 we may se a move to 286.50 and after to 278.50 going back into the range.

Strong stocks: 

ALNY, BLUE, CELG, CLVS, GBT, INCY, KITE, LJPC, PTLA, VRTX.

Weak stocks:

GILD, TSRO.

03/13 – 03/17 Biotechnology

IBBD1       IBBW1

As you see on the weekly and daily chart of IBB, we finaly come out of this large range and close above 300.In long term perspective we may see a move to 341.

The prior pivots for trading this week is 303.74 and 298.30 on IBB.  As we close above 300 last week see if bulls hold 294 and watch for follow through to clear 303.74 level trading strong stocks. If bears go through 294 i will avoid this sector.

Strong stocks :

ILMN, JAZZ, ALNY, AMGN, BLUE, BIVV, CELG, CLVS, ESPR, GBT, INCY, KITE, LJPC, PTLA, SAGE, VRTX.

Weak stocks : 

GILD, RDUS.

03/06 – 03/10 Biotechnology

ibbd1       ibbw1

As you see on the weekly and daily chart of IBB, we finaly come out of this large range and close above 300.In long term perspective we may see a move to 341.

The prior pivots for trading this week is 303.74 and 298.30 on IBB.  As we close above 300 last week see if bulls hold 298.30 and watch for follow through to clear 303.74 level trading strong stocks. If bears go through 298.30 i will avoid this sector.

Strong stocks :

ESPR, LJPC, PTLA, BIVV, CLVS, SAGE, SGEN, KITE, BLUE, BMRN, CELG, JAZZ, INCY, AMGN, TSRO.

Weak stocks : 

ACAD, RDUS, GILD.

 

01/03 – Waiting For Trump

All things mentioned in my market research  are the same, but there’s more caution in the air because meny secotors are overbought as I said.

XLV daily and weekly charts : 

xlvd1    xlvw1

IBB daily and weekly charts : 

ibbd1    ibbw1

On monday and tuesday we had a great move in Healthcare leaded  by biotech sector as IBB broke last week hi. I played this in stocks like AMGN, CELG, EXEL and PTLA mentioned in my market research  for biotech .See if IBB will broke and hold above 300 for anover move.

XLU and /CL daily charts : 

cld1     xlud1

Also we see that utilites showed some commitment and relative strength on thuesday as we broke 52.75. The prior pivot for now is 51.20, see if they hold and watch for follow through trading strong stocks.

Oil have played a nice support bounce from low of the flag, nothing changed and see if it remain strong.

Gold have showed some weakness and it looks like it needs a little more time to rest. Now the prior pivot  is 1237 on /GC.

Also at 9:00 pm ( New York Time ) President Trump Speaks to congress and lets see what he says, maybe this will give some new opportunities tomorrow.

If something will change i will come with an update.

 

 

 

 

02/27 – 03/03 Biotechnology

ibb    ibbd1

labu-wk     labu-d1

As you can see, on the IBB weekly and daily charts we have a very large range from 2016 between $300 and $240 levels ( $55 and $23 for LABU ) . Because there are many companies whose market price are lower than their value like ARIA or CLCD, these companies are bought by others along the way, this can cause an upside move in the future above $300 level where new buyers may occur, but until then, there is not much to do until bears or bulls will broke one of this key levels. However we have some strong stocks in this sector like AMGN or AKAO.

The prior pivots for trading this week is 297 and 285 on IBB (50, 42.50  for LABU ) which are also the highs and lows on weekly chart of the last week. If bulls build up power and broke 297,  see if they hold and watch for follow through to 300 level trading strong stocks. If bears go through 285 level trade weak stocks for follow through to 278 and after to 268 level.

Strong stocks :

BIVV, ACAD, ACOR, AKAO, AMGN, JAZZ, BLUE, CARA, CELG, PGNX, CLVS, EDIT, ESPR, GRFS, PTLA, EXEL, GBT, INCY, SAGE, TSRO.

Weak stocks : 

BMRN, GILD, RDUS, REGN, XON.