Thursday Market Wrap-New Name

For the day the SPX/DOW were +0.40%, and the NDX/NAZ were +0.45%. Bonds gained 5 ticks, Crude dropped $2.15, Gold added $1, and the USD was lower.  We ended the day pretty short term overbought, as you can see in the chart below, what was some support, is now some resistance, so be a little careful. We are up against some lateral resistance as well as the 50 day moving average now.


I took some partial profits today on some stocks (see P&L). I am also adding SUNE tonight as a new long. Buy between 21.00 and 21.60.  It closed today at 21.33.

I mentioned that IBB was on breakout watch last night and it did breakout today. The bio sector remains hot.


See you in the morning.


Previous Post
Pharma Is Dying, Meet the New Bosses
Next Post
Don’t Fret Europe

Recent Articles