Turnabout In Play?
How many times do others have to ask the question, “Is this the bottom?” I
don’t know if it is or not, but I do see certain signals that are pointing to
some upcoming strength in the markets. One is when my list of three-month RS
stocks between 80-99 gets more names on it than the list ranging from 1-20.
Another is the appearance of cup and handle patterns in stocks that are getting
stronger.
12:25:16
The Biotech Holders ETF (BBH)
is challenging the top of a cup and handle on the daily chart. The ETF is
currently up 2.75 to 85.90 and holds a
3-month
relative strength rank of 83 from TradingMarkets.com.
The Biotech Holders ETF
(
BBH |
Quote |
Chart |
News |
PowerRating) is one of the issues that have
based, and is looking like it may have more upside. While there a number of
factors to consider when looking at the big picture, these two clues are many
times a good indication of what could be coming in the next two to five weeks.
Until tomorrow,