Be sure to check out my favorite reads of the week over at See It Market.
A major fibonacci level stalled out the S&P 500's breakout. That's a big concern until it's taken out.
It's also been one hell of a stock pickers market as the chaser's playbook is working well. Here's a quick overview of at what i'm looking at this week.
Biotech is testing key resistance as it's formed a descending channel pattern.
Emerging Market Bonds have held up damn well and are currently finding buyers over an important pivot level.
Financials have broken to 52 week highs. Again momentum is weak but maybe it's just temporary as the market works itself out.
For the first time in weeks Hong Kong followed Shanghai higher Friday. That's a big signal in my book. EWH broke a continuation triangle higher Friday.
Russia looks broken and could be great a short up here.
Other Markets
Various Base metals are testing bounce levels. Copper is testing the rising 50 day moving average.
The Dollar is really strengthening, but the Euro and Aussie dollar (not shown) set to test key support early in the week.
Trade 'em well!
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