Sensitive - sectors that have moderate correlations to overall market conditions.
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Cyclical - sectors that are more sensitive overall market conditions.
VCR Consumer Discretionary
Defensive- sectors that tend to outperforming during sub par market conditions.
VDC Consumer Staples
IBB Bio Tech
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Big Picture Set Up
ANTM has been flagging quite tightly for the last month in a 3% range, will look to buy up through $400 vs the low of the flag.
We got a nice low risk buy up off support in CMG, the real stop is vs that doji at lows however I do not mind limiting the risk as it has yet to really move away from our cost basis.
Got ticked into an add in DHR as it was not quite ready to break out to new all time highs, still looks like a great flag and will add again the next time DHR heads back above $260.
With MMC retesting the prior high we should expect this area to be met with resistance as it continues to flag near highs, just need to be patient and be ready to add to this winner when the time is right.
The measured move of this bull flag would be towards the $120 area, for now keeping the stop at $98 as the stock has been respecting that area for now.
As we have been trading the range in SNAP quite well, it is inching its way back towards the $64 area that has acted as resistance for the better part of the year. As much as you may want to sell into this, we know the more attempts a stock makes at a resistance level the higher the chance it breaks resistance and continues higher. For now there seems to be 3 spots to place a stop depending on the room you would like to give the name.
For those still in UPS, its started to flag out nicely on the daily, and we could find some lower entry points however for now, giving this name the time it needs and will wait for the proper entry to buy the new all time high when it wants to go.