It’s still a bit choppy out there but the financial stocks are making some headway.
BAC, C, GS, JPM and MS are all at or near recent highs with predominantly persistent positive OVI readings.
A railroad tracks setup to consider is MPAA, but make sure you play it by ring-fencing your profit if it closes in profit after the first day. Interestingly AZO is forming a kind of bearish ‘railroad crossing’ and is also in the auto parts sector.
The health care and drugs sectors are looking wobbly with several doji reversal type scenarios coming to the fore, and thesame applies to the semiconductor sector.
I’ll be recording a full market review video for you this weekend. The summary today is that the financials look like they want to rise, while the other sectors mentioned here seem fragile.
Talking of recording, I’ve almost finished with the workshop time-line edits and we should have something up within a week or so.
