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Consumer Sector Review: 4/25/25
"Just Go Long It": Nike, a former American icon, has been taken to the woodshed. Is its time in the penalty box over? I can only speak from a technical standpoint but from this lens, I think the answer is yes. The WEEKLY chart below shows back-to-back spinning tops the weeks ending 4/11 and 4/18 and these types of candles are adept at signaling potential trend changes from the prevailing direction. Combining the 14.5% losses the weeks ending 4/4-11 in enormous volume is a sign that bears were unable to follow through to the downside and the name feels washed out now. The MONTHLY chart shows if this can CLOSE above 60.59 that would be a major win for the bulls as the stock has been well below the 50 MONTH SMA intramonth. Options activity has been bullish for the name with put sales, and it looks ready to recapture its former glory. A finish above the 50 MONTH SMA would set up an add-on buy point through a double bottom pivot of 120.80, perhaps in late 2026 or early 2027. This name is a top ten holding in the XLY and a gap up in the next few sessions would complete a bullish island reversal. The DAILY chart here also shows a bullish engulfing candle and doji on 4/4 and 4/11 to add to the allure.
Healthcare Sector Review: 4/24/25
Biodegradable Biotech Breakouts: Biotech investors and Met fans have something in common. We have been conditioned to accept defeat. But could sentiment be becoming so bad in the group, that even a small bit of good news can get the space rocking again? Wednesday did complete a bullish island reversal with the gap up, although the XBI CLOSED 2.5% off intraday highs on a candle which could be considered a bullish inverted hammer. Some green shoots are the strength on an awful tape this Monday, as the XBI was green for a good portion of the day. Sure we may be cherry picking but that could have been a tell. Since the devilish intraday low of 66.66 on 4/9 with that huge bullish engulfing candle rising more than 7% it has not declined in back-to-back sessions. To demonstrate how washed out sentiment is, the XBI is looking for its first 3-week win streak since last June and last week did record a rare doji candle (the only other one in last 2.5 years was one at the top the week ending 9/20/24. Top ten holding GILD REPORTS after the CLOSE Thursday, and will give us a good feel what to expect going forward. Will this strong-performing mega-cap start to put some capital to work via acquisitions that could finally start to get this group going in the second half?
Technology Sector Review: 4/23/25
Baby Steps: Technicians for one thing judge a healthy market by how many breakouts are not only occurring, but more importantly how they are acting POST breakout. We know the best ones tend to work right away and follow through, and this behavior has been non-existent as of late. Could that be changing with Tuesday's break above a double bottom trigger just below the very round 1000 number? We will find out how it finishes the week over the next few sessions. Remember we looked at PLTR and it was able to CLOSE above its 98.27 double bottom pivot just one session but today completed a handle on that base and can be added to or initiated with a buy stop above a 99.09 trigger. CRWD has vacillated between the very round 300 and 400 numbers but has shied away from its attempted break above a double bottom trigger of 392.79. Will the third time be the charm for a legitimate breakout for NFLX? It is possible fledging breakouts will gain more confidence and take their cue from it but that remains to be seen. PRICE must confirm but Tuesday was a good start. Tuesday was a nice CLOSE above the pivot although it CLOSED off intraday highs. Lets circle back on this one at the end of this week.