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Mid-Thursday Technical Update

Thurs am Technical Video

https://stme.in/ZD10qg41iJ

 

 

Technical Analysis Video Webinar, 15 mins.  Today 1pm EST- https://join.startmeeting.com/info69336

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Early am gains in S&P FUTURES, while NASDAQ lower, Europe and Asia both higher.. Dollar  continuing to fall.. and Commodities slowly turning higher even with yields climbing

Silver and Gold beginning to turn higher and XLB which broke out a couple days ago.. still looks to move higher.   One should consider positioning in Materials and Metals oriented stocks along with Healthcare-XLV-, and shift away from Technology near-term after this Tech runup..   So the breakouts in Materials and Healthcare should both continue near-term..  and a good area for short-term outperformance

Early gainers in AVHI, AXON, CONN, FIVE, ATHX, ZS,   Decliners in PTI, MDXG, REVG, AMSC, VBLT, ATUS, FCEL,

 

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NASD COMP has had quite the run, and accelerated after having exceeded March highs, while DJIA and SPX have languished

Movement to 7800-7850 would be used to sell into next week

 

 

 

Silver making its move-  Rising to the highest since mid-April.  Precious metals starting to rally.. but more gains will likely depend on rates pulling back, which might be postponed until after FOMC next week

 

 

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FIVE, recommended this past MONDAY at 71.39 in this past weeks Weekly

“10 Technically Attractive Stocks to consider ahead of possible mid-month June Swoon”   is trading above 95 pre mkt, up +14

I would use this gap to Sell this name, but buy back near the end of June on pullbacks

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Similar to XLB-  XLV, Healthcare also broke out yesterday.  This is near-term bullish for this group and stocks like GILD, ISRG, BAX, MRK have been important in fueling this move