The Dow pushed back into positive territory for the yesterday. The S&P advanced 24.69 points, or 1.2%. The Nasdaq rose 73.40 points, or 1.5%. Energy stocks in the S&P rose the most on today, up 2.4%.
One thing I have never seen before is that the MACD reading on the SPX, QQQ and Dow are at historic highs. Off the chart. However the McClellan Oscillator which gives an overbought/oversold reading is not even close to overbought. Conflicting readings to stay the least.
The SPX hit the top of the channel today. Tomorrow is key for the bulls and they will want to see a follow thorough day.
Many biotechs are basing and looking better. Watching JAZZ, ONCE and AGIO.
I added NVCR as a new long toady.