Sector rotation! The NASDAQ continues to show profit-taking while the Dow is showing strength, trying to come up through the 200 day moving average on a potential bobble breakout pattern. The implication is there is not any change of investor sentiment as far as overall market direction, merely profit-taking from sector to sector. The Biotech’s and medical supply companies continue to act very well. Take profits in sectors that are turning over, there are new sectors starting to show strength.
July 14th Daily Market Comments
Sector rotation! The NASDAQ continues to show profit-taking while the Dow is showing strength, trying to come up through the 200 day moving average on a potential bobble breakout pattern. The implication is there is not any change of investor sentiment as far as overall market direction, merely profit-taking from sector to sector. The Biotech’s and medical supply companies continue to act very well. Take profits in sectors that are turning over, there are new sectors starting to show strength.