Markets once again displayed laziness with the major averages close to the UNCH line, the S&P 500 slipped .2%, but the small cap Russell 2000 losing .5%. Looking at individual groups technology has been a slow and steady performer with the XLK higher 10 of the last 11 weeks and the lone down week ending losing just 5 pennies and CLOSING at the top of its weekly range and therefore we can conclude that the last 11 weeks behaved bullishly. Their is some jockeying within tech for who has been the best actor and semiconductors clearly deserve the top spot although software has been coming on strong as of late. Of course within the semis there have been winners ad loser, with the laggards being AOSL and EXPR down 27 and 18% from their respective 52 week highs. But being the optimist I am lets reflect on the winners and those that warrant special status. There are many under followed names that justify mention like a COHR or a new issue ICHR that has gained 76% this far in ’17. Below is the chart of ENTG and how it was presented in our Wednesday 3/8 Game Plan. Last week it rose 9% on the second most active weekly trade in the last 22 months. It did encounter some trouble at the very round 20 number trading well above intraday on 2/2-3 by 2% but both sessions were unable to CLOSE above. If there was one positive to take from Monday it was the utilities the days worst actor with the XLU losing .7%.
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