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When all looks weak, it is easier to see the potential new leaders because they show up on the all-time high (ATH) list. When the market turns up, some may take off.

One of them, SGEN, has a recent GLB and volume spikes on up days (black bars). It is worth researching. It is a biotech with no earnings and may be a takeover candidate.

The Wall Street saying is that interest rates move inversely to bond prices. This is like when a stock price declines the dividend yield rises. For example, a stock that pays $4 per year would have a yield =4%%,  if the stock’s price were $100 (4/100=4%). If the dividend remains the same and the stock price falls to $50, the yield would climb to 8% (4/50=8%).  So it is with bonds which typically have a fixed interest rate/dividend. Falling bond prices = higher interest rates. TLT gapped down on Thursday.

I am concerned that the put/call ratio is only .91. There is not enough fear in this market to turn it around. The chart of QQQ is looking ominous. Short term support has not held. I am mainly in cash with some $TBIL in my trading account.

TBIL is an ETF that invests in short term treasuries. It pays a dividend monthly, which explains this unique daily chart. (TBIL is reduced by each dividend payment.) I enjoy seeing the dividend payment credited to my account each month. Its yield is a little over 5%. Check it out.