By Investor’s Yak
Here are the three things you need to know:
- The Medical related industries bounced off their 50 day moving averages (DMA) for Biotechnologies, Pharmaceuticals, and Healthcare. Action Zones reflect the possibility of a continued move toward the upper trading range (TR) ceiling.
- TR’s also continued in the Major Market Indexes, Financials, Home Builders, and Consumers Sectors. It would be great to see new high price breakouts this week, but institutions may be holding off until the summer concludes.
- Down sectors with 50 DMA’s below the 200 DMA are Energy, Utilities, Transportations, and Metals. And worse, the 50 DMA for some Technology and Semiconductor companies are starting to slope down towards their 200 DMA.
Event calendar affecting markets this month
20 August – Greece ECB bond payment due
28-31 August – Window Dressing
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