Pay no attention to the Dow which is actually down a point. NASDAQ up 36…NDX up 39. AND:
BIOTECHS lighting up like a pinball machine. KITE was bought out on Monday for $10 billion even though no drugs to market yet. That is lifting the whole group. Many hitting screens today.
SEMIS up nicely. As we have told you, market has literally no chance to get smacked if SEMIS are working. The SOX is in the 12th week of a new base since it topped out June 9th. The pattern is wide and loose but could tighten up.
TRANSPORTS 2nd straight strong day after holding support yesterday. The TRANSPORTS in a 9 month range…and has rallied back into the middle of it.
Much better tone this week…but remain in very choppy action.