About as flat as you can get. Not a lot of buying, no selling (again), and that leaves the indices status quo. Status quo, and not a lot of good news on the ticker whether geopolitical or economic, but the indices are hanging in and working on new bases. Even SP400 is working on one, trying to put in the right shoulder to an inverted head and shoulders. If you want to stretch, you can say RUTX is doing the same.
SP500 -1.34, -0.06%
NASDAQ 0.98, 0.02%
DJ30 -1.24, -0.01%
SP400 -0.07%
RUTX -0.01%
SOX 0.50%
So, we are seeing some bounces again in biotech, some good semiconductor moves, and still the indices, while boring everyone to death, are not selling or breaking down, and indeed are sneakily building the next base.
How is that for a positive Friday?
We will see how they play out but this gives us some good plays for next week.
We are also looking at entering SUPN. Already have QRVO in chips, and looking at BRKS though very light trade; may wait on that one until next week.
Jon Johnson, Chief Market Strategist
InvestmentHouse.com
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