I will be conducting a free educational webinar TONIGHT, July 15 at 10PM Eastern for Marketwise Asia. You can register to attend for free here
“Everything here says we’re still in a beautiful uptrend.”
The market is still very bullish, with the NASDAQ creeping up towards all-time highs, indicating a strong bull market.
“The Russell 2000 is up 10% year-to-date after this week’s 3.6% rally and that came in the same place where it has shown previous support at the 200-day moving average year-to-date anchor.”
It would be ideal to see the market pull back to the anchored volume weighted average price from the all-time high, potentially paving the way for a buying opportunity.
” $SMH The people who chased the breakout got what Breakout Chasers usually get, they get sold into.”
Biotech’s to consolidate before a potential breakout.
Selling after earnings reports wouldn’t damage the emerging strength of the financials, but it’s crucial to wait for a break above and hold above the year-to-date anchored volume weighted average price before considering buying.
It may be a good idea to take some profits off the table in $ARKF , as it has experienced a significant rally and is currently extended, with a potential pullback in the future.
