Weekly Watch List May 3rd – May 7th

Although the market indexes are in a sideways mode, there are still some good strong bullish sectors. However, it will be very important to see how the market indexes open on Monday. The NASDAQ, on a lower open, would be creating a Dagwood signal, an evening star signal followed by a bearish Doji sandwich, an evening sandwich. The biotech sector continues to act strong, with co-vid related stocks showing good strengthVIRX, VXRT, OCGN, FREQ, TBIO, AMTI. The medical supply sector also continues to show good bullish chart patterns CTSO, LLIT, ORGO, HEXO, MRVL, TRHC. Restaurant stocks are showing strength in RRGB, BJRI, TXRH, CHUY, OSR. Keep in mind, entering trades in strong sectors still requires witnessing strength in the overall market trend. Obviously, if the premarket futures are showing the markets are going to open much lower, you do not want to be jumping into bullish trades. We have been getting many inquiries about the Candlestick Forum flashcard sets.

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