Stock Market Technical Indicators & Analysis
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.
Jesse Livermore might say, time to go fishing….. Darvas would call it a market for the birds. O’Neil would stay away, as I suspect would Minervini. And the perspicacious and man of few tweets, David Ryan, said on August 24:
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.
