The above chart shows a typical business cycle and the points at which various economic sectors tend to outperform the broader market. Financials and technology typically lead a new bull market. Yesterday the financial sector took it on the chin, so it could be a while before the next bull run begins: BAC -18%, C -15%.
Meanwhile, the markets tested and then rallied off their lows to end a bit higher on Thursday. Volume was higher than Wednesday. The previous November 21 low is still intact. Look for a confirmation of a possible rally in the coming days and continue to build your watch list in the next coming days.
Summary: Wait for market confirmation and proper chart setups.
Markets: Below 50 and 200 day MAs.
Sector: School stocks
Stocks: watching LOPE, AIPC, MYRG, CFL, LZR, MAXY, DL, URG, TIS
Positions: None
Sector: School stocks
Stocks: watching LOPE, AIPC, MYRG, CFL, LZR, MAXY, DL, URG, TIS
Positions: None
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