It’s been quite the week with some wild swings in Pharma and bio stocks but they are still setting up nicely, while steel stocks continue to show very nice strength like we haven’t seen in years, but they do need some consolidation shortly.
Silver is trying to take the lead and bring gold higher with it, but so far it’s not succeeding exceedingly well.
Talk of a NFLX takeover continued today with AAPL in the mix with DIS now, while China cut daily ATM withdrawals in half and LVS and WYNN were hit hard and low as a result.
Great action from SPY but we are overbought right now so some consolidation can’t be far off.
Ideally we see SPY setup like the steel stocks did before this weeks newest breakout.
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