Below is a list of names for those charts we believe are showing technical characteristics of either bullish or bearish reversal patterns that occurred over the past week.
Bullish reversals imply institutional accumulation and the potential for higher prices. Bearish reversals imply institutional distribution and the potential for lower prices.
Each group is listed by sector affiliation. Please feel free to contact the author for further details.
Bullish Reversals:
Consumer Cyclicals: The Michaels Companies (MIK) , Signet Jewelers (SIG)
The Utes typically top out before the major indexes do, so they are a warning sign when they start to go down -- on Wednesday they lost 2% in their biggest daily loss since January, yet few seemed to fuss over it.
As chip stocks gain nearly across the board following numbers from Micron that weren't exactly stellar, it's worth remembering how low valuations for many names had gotten.
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