Markets shrugged off some worrying jitters in the premarket to go out near highs for the session. The Nasdaq at its lows was down 1% and managed to eke out an UNCH finish. It is amazing just how tight the last 3 daily CLOSES have been all within just 2 handles from each other. The recent action has saved its handle on a cup base and the trigger of 5164 could be taken out at some point this year. The S&P 500 finished up .1% after being down .75% early on. Both benchmarks are UNCH thus far for the week. One has to come away impressed with the action since the horrific Paris attacks. Brussels has been on lockdown, today news of a Russian warplane being shot down and the market remains firm. One way in which the markets have reacted rationally to the flare ups in the Middle East has been in oil. Energy names were the big beneficiaries Tuesday as the group rose 2% as a whole. We continue to like the group and we again reiterate to scour the sector for longs. A tailwind for the group is also the greenback running into trouble at the very round par figure. It has done so this week, as it did earlier in the year with 2 bearish dark cloud cover weekly candles in March and April. Some more earnings reports this morning left a nice taste in the mouth of bulls with BURL and ADI rising 7.2 and 6.4% respectively. BURL may be getting its mojo back after its third well received earnings report of the year. It rose 11.6 and 2.2% on 8/27 and 3/17. Below is a detailed chart of the name.
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