All of the major indices are losing their 20 day moving averages today, which was about the only thing the bulls had going for them. The S&P 500 currently sits on support from the breakout point last Friday:
But, I’m not so sure the bulls have what it takes to see a continued bounce given the action in oil & the financials. Just take a look at the bear flag breakdown in the $XLF:
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Or, how about the former leader, biotech, which continues to find new lows:
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My screens are coming up empty and my activity continues to be light here. Chalk another one up for the bears.
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Pretty bad indeed.
Indeud
GILD here to save IBB?
Here are 5 names found inside Exodus with great seasonality stats for the month of February.
02-02-2016:
V -1.29%
NXPI -4.53
DLPH -3.66
CF -2.61