19Aug3:44 pmEST

Sweet Tastes in a Bitter August

Despite the rally today, August has thus far been not been very kind to bulls, especially looking at a daily chart of, say, the IWM (small caps). However, the sweet taste of relative strength in the likes of biotech INCY and fast/casual chicken wing joint WING, respectively below, still ought to count for something serious.

Indeed, disregarding the type of relative strength both stocks exuded during the various selloffs this month is a form of stock market nihilism. Instead, I view both names as being among sector leaders for their respective segments, and both continues to be quality long setups. 

As for the market at-large, bulls made progress the last two sessions but still cannot afford a big fumble overnight nor as we edge closer to Jackson Hole at the end of the week. 

Hold! Avoid Self-Inflicted Traps

 
BackToTop
 

This website is intended for educational purposes only. | © 2020 MarketChess.com | All Rights Reserved | Website design by Saco Design | Superpowered by Site Avenger

mobile site | full site