Big Caps On The Move
14.09 09:31 - Big Caps On The Move
The market showed a nice follow-through in the yesterday session, showing that the bulls are still taking position ahead of next week´s key events. This is more than hazardous in my eyes and the weak volume behind the rally is more than an alarm bell for me. Major indices was pushed higher from a fistful of big cap-stocks, but the breadth was poor. It makes no sense to speculate on the Fed´s next move and try to anticipate it. Gambling is a fascinating aspect of trading that I prefer to let play to other partecipants.
Here an interesting chart:
Seattle Genetics Inc.(SGEN)
jumped to new all-time high in May. The stock is moving sideways in a wide cup & handle pattern since then and could break out soon..
Chart Courtesy Of TeleChart
Swing Trading, Technical Analysis, Daily Stock Market Commentary.
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