The focus of this week's report is some groups standing out. They can provide some huge clues moving forward. Let's dig in.
I compiled 20 of my favorite reads of the week in See It Market's Top Trading Links.
Is vol rangebound?
The VIX seems to be respecting the 13-17 range on a closing basis.
Vol term structure may also be forming a lower range on the complacent side of things.
Home builders have hit a fresh relative strength high. Can price break-out? The strength is permeating through the space as well.
The sharp drop in many biotech names has many folks preaching bubble. Biotech's momentum via RSI thus-far is undamaged as it maintains the 2015 range. Further damage from here would be a big hint.
Travel stocks are testing the 10 and 20 week moving average confluence.
Hotels are flashing relative strength.
Software is another group possibly forming a continuation wedge.
Last week I pointed out the transports via XTN. Their breakout failed in a big way as the index lost 4.6%. Note the dow transports ETF (IYT) is testing it's 200 day moving average.
aaaand finally Emerging markets have disappointed for years now. The line's I drew are quite arbitrary. I'm more interested in watching the 36-42 range.
Thanks for reading, have a great week!