GMI back to 4 (of 6) and T2108 is at 41% and is at highest reading since July 17. T2108 measures the percentage of NYSE stocks that are above their 40 day simple moving average and shows that large cap industrial stocks may have bottomed.
I am beginning to wade back into biotech stocks. I like AMGN and CELG.
1 thought on “Technicals are strengthening”
I have held Amgen for about a year. Only a small holding just because my buddy told me I had to have it.
I would not buy any other biotech stocks or health stocks at this time. My index charts are still flat to negative. BIB and IBB tell me that biotech is still bearish.