Resource names are still going.
LNG,GLNG,DVN,GPOR & CBI in Natgas Infrastructure.
IBB is attempting an ORH day. This sector is not overbought.
The risk to own this sector is today’s lows.
ILMN,GILD, BIIB,SRPT,ICPT & GSK are attempting ORH days.
The Agri names caught a big bid over the past 2 sessions.
Monsanto has hit resistance @ 89. It will take all new buying above to extend.
Wait for a pullback if you have an interest.
SMH held Friday’s low and is trading above it’s 200DMA.
Nasd 100…has gone sideways for 4 sessions with a new low today.
Price action late day above 4355 is needed for this index to lead although, with the rotation out of Fang and back into Biotech & Semi’s Nasd could continue to churn.
The board becomes a search for value.
Most energy names have already rallied 20% or more. It doesn’t mean they can’t keep going, I’d just prefer to
a break at some point closer to $35 again in Oil.
Down under the ASX 200 is poking it’s head up above it’s 200DMA with a strong Aussie Dollar.
This will take into Sydney tonight for confirmation.