Summer Stock Strength and Weakness

By Investor’s Yak

Here are the three things you need to know:

1. Strong uptrends in the Medical area are getting tested at the 50 day moving average (DMA) for Biotechnologies, Pharmaceuticals, and Healthcare. Action Zones warn of pull backs for a few more days.
2. Trading ranges are being challenged in Major Market Indexes, Financials, Technology, Home Builders, and Consumers Sectors. Many are priced below their 50 DMA.
3. Down sectors with 50 DMA’s dangerously below the 200 DMA are Energy, Utilities, Transportations, and Metals.

Event calendar affecting markets this week
28-29 July – Fed meeting
29-31 July – Window Dressing