A great divergence is taking place in biotech, $BIIB and $GILD are lagging (GILD already down 10% and closed below its 100dma for the second time last week while its 50dma is rolling over; BIIB spent the entire week under its 200dma), while $CELG and $REGN are stalling.
Half empty or half full, depends on your philosophy.
I prefer half empty at this point....
BIIB has not recovered since Droptober, and it's since been hovering between its 50, 100, and 200 dma.
Round top, multi H & S, what have you.
But it all depends on the overall market. We can get another post puberty growth spur and BIIB can finally break above its 50 and 100 dma.
But, the market is at its all time high, and we can all admit that QQQ has been...
Two sets of symmetries,
Blue boxes measure the drop in mid October and its V rally since earnings.
Gray boxes show you the "grand scheme of things", since its bloody washout first half of year, and its recovery since then.
Perfect symmetry, proceed with caution.
Any attempt to rally was sold into last week, someone was trying to get out of this name. Look at how YELP, AMZN GOOGL, and NFLX reacted after ER, there's clearly a sentiment shift. People's risk appetite has greatly reduced after Droptober.
"Losing less money than expected" or earning 2 cents(Non-GAAP by the way, learn your accounting) are simply not good...
Caution advised, we are not totally out of the woods yet. Better wait for confirmation. Don't chase the market just because you're afraid of missing out a few ticks. Sky is the limit, there's plenty room to run if it did confirm.
20/50/100ma all tangled up in blue over there (Hey, that's a Bob Dylan song right there, haha)
Very strong resistance hanging overhead colored in pink, going back to April.
Caution advised, if the market turns, this could be a good short.
I don't have the stats, but you probably know that many S&P 500 companies are using debt as a way to finance its share buyback program. (Yes, I'm talking about you Apple)
So these companies are in a triple dilemma.
1. Investors are closely scrutinizing their bottom lines every quarter (Whatever happened to the big picture and the Oracle of Omaha, the Moses of...
SPY would make all time highs by touching either the pink or the red upper trendline, EVERY SINGLE TIME since July 2013 with no exception. Except since July this year.
SPY made a couple of all time highs since the end of July, but each time it has failed to touch the upper trendlines, in fact, it has gotten farther away from the upper trendline while making all...