Markets were slightly bifurcated Thursday as the Nasdaq and Russell 2000, your more aggressive benchmarks underperformed. The Nasdaq dropped .4% and the Russell 2000 by .7% today and the S&P 500 rose fractionally. As we spoke about this week the Russell 2000 did break above a cup base trigger and the best breakout tend to work out right away and power ahead. It is retesting it at the moment and if it falls below could be a big negative. On a weekly basis the averages are showing differing action as well as the S&P 500 is higher by .5% for the week headed into Friday and the Nasdaq is lower by .1%. More concerning is the leadership which we have been witnessing as it was the utility and staples play that have shined today once again with the XLU rising more than 1%. Is it sector rotation? It is a bit to early to tell but some affirmative signs have emerged and the XLU and XLP are clearly the best two sectors on a weekly basis with the XLU up 2.6 and XLP higher by 1.7%. Healthcare continues to act well and I continue to keep an eye on former leaders that were perhaps unduly punished in the recent malaise. One that fits the description is OSUR and below is the chart and how it was presented in our Tuesday Game Plan. I recall this particular name was going to be all the rage as they had an interesting device for couples on first dates that could breathe into it and determine in extremely rapid fashion whether one or other dates had HIV. That is now well in the companies past.
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