After dropping 168 NASDAQ points in 2 days down almost to the penny to the 50 day average…good bounce today into the end of quarter, pre-holiday period. A few things to remember:
BIOTECHS still in shape. They were hit yesterday but technically, still fine. Helping out today.
The SOX is sitting around the 50 day. Better hold. After early red, turned green today.
Away from Tech, our “changing of the guard” theme just may be playing out. Seeing some real good patterns in airlines and other transports…better action in Commodities (though no leadership yet) and the DOW/S&P-types still acting fine.
Do remember it is end-of-quarter shenanigans.