For the first time in 3 weeks markets kicked off the week in a positive fashion. As you would always like to see from leadership groups the Nasdaq enjoying the biggest gains with a lift of 1.5%, recouping its 50 day SMA in the process. The S&P 500 gained 1.1% and CLOSED just beneath its 50 day. Sectors that shined Monday were consumer discretionary, information technology and materials all up better than 1%. Utilities and energy lagged, being the only 2 groups finishing in the red. Healthcare enjoyed gains in the neighborhood of 1% and they have really supported this ongoing bull for the vast majority of the time. Names like INCY which we profiled in Mondays Game Plan took out a good looking ascending triangle pattern to post 15 year highs. Below is how the stock was profiled in our report last night. Older names are finding new life in the sector as well, pun intended. As we are big proponents of the round number theory AFFX tested a 10.10 cup base trigger originally taken out on 12/29/14 that began during the week ending 11/14/14 (notice the high that week was precisely 10). Last Monday and Tuesday that exact 10 handle found supportive bids and went on to post admirable 6.5% gains last week demonstrating excellent relative strength. It is honing in on its 50 day SMA on its current 5 session winning streak and a move above that line can be bought with a buy stop of 11.75 and added to through a double bottom trigger of 12.85.

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