The market is turning bullish again! Both S&P500 & the Nasdaq are up quite a bit and has retraced most of the sell-off. While some stocks are soaring in this rally, some are still lagging behind, particularly healthcare and biotech stocks.
This is a classic situation where fear, uncertainty and doubt all come together. The situation with ULTA is critical on the weekly and exposes opportunities on lower time frames.
ULTA had the last stand, amongst global markets heading south. But today ULTA was thrown off track. I've been stalking ULTA from 2016. Two years? No problem. Why? Because it was a risky one to go long for the last two years - and I didn't have the financial muscle to take it on. But in the last couple few days I saw a weakening of momentum, and made that judgement...