Positive reason for XBI - relatively equal weighted @ 1% - can not know which bio is going to be a winner!
Like the 30 week moving average as an indicator.
Thesis is as rates fall Bios will be more attractive!
Supply of new drugs in big pharma is dwindling/ coming off patent and they need to replace with new drugs for revenue; so Big Parma will be looking to...
So many reasons that the QQQs need a bit of a pull back!
5 consecutive green days/ 6 out of 7 green days where red day was not that significant!
Still below the 200 day
Connors RSI 2 is at its limits!
Feels like the over weighted stocks in the index are playing musical chairs and not in sync.. Something I watch - MSFT,APPL,AMZN,GOOGL,META,NFLX,TSLA
Watching and learning from others. It is always a great idea to take a step back and look at the BIG Picture Took the time to go through the weekly chart to 'see' the divergences myself and "WHAT IS NEXT?"
200 week simple moving average is significant. Just when AKA 2021 ; and 2000/2008 the 200MA seams so far away - reality kicks in and we need a wake-p call! ...
Do we see a negative divergence in the dollar to the 14 RSI?? Have been listening for weeks that China and the Emerging Markets will rise on the 'weakening Dollar! Are we at a point to see if this will play out?
This guy has a 10% Dividend with expected sales growth over the next 5 years! Dividends paid quarterly. On my permanent watch list for the fundamental watch looking for some possible dips to take advantage of the dividends,
Looking at the rising Fed Interest Rate and the action of the 200 Week MA on the SPY - Obviously the Pandemic forced the hand of the FED - SO are week looking to reclaim and undercut the 200 MA before Inflation and Rates normalize??