The market internals improved to positive from the trading on Thursday. And the screened stock ratio went strongly positive at 16.2 to 2.9 favoring buying. This moves the market risk down to low, however, it seems the ratio at this level indicates overbought short term. I would at least expect profit taking at the open today, but there should be some good long plays.
Still very little changes in the screening, the strongest groups remain, biotechs, drugs, healthcare and medical equipment. And again, computer networks, semiconductors and software are providing good trades out of faster rising groups.
Longs to watch: ABC, APOL, ATK, CPRT, LLL, PATH, PEP and THC.
Good Trading!!
Sam
savvy-trader.com |
