This rally is getting a little long in the tooth in my opinion. Today’s momentum screen somewhat confirms it with bearish ETFs popping up, such as $SOXS. The bulls need the semis for a continued move higher, and today’s candle in $SMH looks a little suspect. Gold also found its way back on the screen with tickers such as $AUY, $KGC, $GOLD $NGD, & $NUGT all moving higher by at least 2%.
Enough of the bearish case though, after all this is 2020, where stocks only trade higher. Here are some long ideas to finish the week should we continue to see individual names squeeze higher here: SAVA, ICE, AAOI, SWCH, FSLY, & NVTA (My stock of the year).
Today’s full screen can be found through the following link: CLICK HERE FOR CHARTSIf you enjoy the content at iBankCoin, please follow us on Twitter