|Day Low/High||10.19 / 10.54|
|52 Wk Low/High||3.45 / 17.88|
Seven names that have technical characteristics of either bullish or bearish reversal patterns.
Action such as seen on Tuesday creates strong underlying support as those who missed the move still are looking for entry points.
If the Nasdaq ETF stays in the red, the bears will get some confidence.
But now that we have a little softness, the charts will be able to develop into some better patterns.
Catalysts such as nuclear bombs, hurricanes and a hawkish Fed have very short half-lives in this market.
There is no technical reason at this time to be overly pessimistic, but many individual stocks are starting to slow after big runs.
It's hard to predict when momentum will slow, but it could be time to take some profits when the market is as strong as this morning.
The dip buyers are still waiting for an opportunity to buy some weakness.
The iPhone 8's reported inclusion of several new technologies is expected to yield changes in Apple's supplier mix.
Thermo Fisher is looking bullish, while Blue Buffalo goes the other way.
Just when it looked like panic would take hold, buyers started inching in.
Stocks marched higher in midday trading Thursday with the Dow in sight of an all-time high as the U.S. dollar weakened.
In particular, I'm perked up to Himax Tech and National Bank of Greece.
Himax Technologies is an interesting play as it diversifies its TV dependence.