Drug-Induced Crash
The Pharmaceutical Index
(
DRG.X |
Quote |
Chart |
News |
PowerRating) is breaking down from a complex
head-and-shoulders pattern in today’s session, setting off a number of short
setups.
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Eli Lilly
(
LLY |
Quote |
Chart |
News |
PowerRating) is resuming its meltdown out of a pullback from lows
after a couple of head fakes.
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Ditto for Schering-Plough
(
SGP |
Quote |
Chart |
News |
PowerRating).
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Johnson and Johnson
(
JNJ |
Quote |
Chart |
News |
PowerRating) is probing below its converging 20- and 50-day moving averages on an expansion of range.
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If this weakness throughout the sector continues, continuation
shorts could take shape in the next couple of days.
See ya tomorrow,
Duke