Once again, we’ll be watching XLF closely (especially on the member site).
XLF
XLF closed above its 30-day MA this week. The 10-day MA has already risen above the 30-day MA and the 20-day MA is about to cross. It’ll be nice to see XLF clear above the 3 daily MAs. I think GS has the strength to go above 180 this time, which it fought with last week.
OIH
OIH has recaptured its daily upper BB and could start to ride it up higher. The leaders in this group all look pretty good: RIG, DO, SLB, BHI. NE felt some pressure late last week as CVX terminated a rig in Nigeria early.
FXI
Chinese ADRs are still hot. It struggled with the resistance at 152.5 on Friday. But, I think above this level, FXI can go much higher! Some of the favorites here are: ACH, BIDU, CTRP, CHL, LFC, PTR, CEO, JASO.
BTK
The biotechs are getting more and more attention as BTK continues with its recovery. It has risen above all 3 daily MAs. I especially like how the daily MAs are bunching up with 10- and 20-day MAs already curving up; even the 30-day MA looks like it’s ready to turn. DNA, once a $90-100 stock, is now only $75! AMGN, which came all the way down from $80 range, is now just above $50. ONXX has been getting lots of buyers lately, as it announced positive results on Nexavar, and it’s at an all-time high. I think ONXX can soon go into the $40s. CELG finally broke above the resistance at $62 last week. Its buying volume also increased. I think we can see CELG above $70 near-term.
Exchanges
These stocks have been trading sideways lately. But, I think they might be ready to go up again. ICE and NMX look especially good!
WOOHOO, we get an extra day of rest and relaxation this weekend! Enjoy!!
Happy Labor Day!
HappyTrading! ™
Get Wang’s World in your email for FREE!
One Trackback/Pingback
[...] strong today, closing above 800! The biotechs stocks (DNA, AMGN, ONXX, CELG) that I mentioned in my weekend forecast are all doing well this week. Money is definitely rotating back into this sector. The semicoductors [...]
Post a Comment