Clean Sweep For Biotech

Clean Sweep For Biotech

The XBI(Biotech ETF) finished the week with a 3% gain on accelerating trade.  The 200 day held support all week.  Quite a bullish set up.  We covered the XBI earlier this week:  Biotech Breakout The BIB(ProShares Ultra Nasdaq Biotech Index) and the IBB(ProShares...
Qualcomm Lifting

Qualcomm Lifting

Shares of Qualcomm are trading at new February highs today.  The stock is up 2.3% and is headed for a close above last week’s high. Highlights:  QCOM fell to within $1.00 of a major support zone(2017/2018 lows) following a nasty breakdown on Jan....
Amazon Update

Amazon Update

Overhead resistance is firming up.  $AMZN was rejected at the 200 day moving average in late January.  Despite a high volume post earnings surge on January 31st the stock failed at the 200 day again.  We remain cautious in the near term.  A clear break below last...
Lam Research Extends Breakout

Lam Research Extends Breakout

Lam Research continues to build strength following last week’s powerful earnings inspired breakout.  $LRCX surged over 15% on Thursday, its best gain in years, as volume jumped to extreme levels.  This week the stock is beginning o to pierce a very heavy 200 day...
Alibaba Breakout

Alibaba Breakout

$BABA is in breakout mode today.  Shares are up 5% following this morning’s earnings report. Highlights: $BABA left behind a major double bottom in the fourth quarter of last year.  The January 2019 low is also in this zone. A divergent low(daily MACD) began to...