S&P 500 Futures – Cycle Up Becomes Obvious
The S&P 500 bullish cycle anticipated last week has begun it’s trend North. Most stocks are indicating a positive open as we start the week. Healthcare, biotech, pharmaceutical, financial, and technology stocks are green.
Summary
S&P 500 Cycle
The S&P 500 cycle will start trending if the pre-market price action remains firm. S&P futures are (+10.25) and holding, with the mid-June pivot high as today’s target (2791.47).
Most of the indices and SPDR sectors show a similar cycle low, so we anticipate these will turn higher as well. Healthcare providers, biotech, and pharmaceutical stocks should perform well today as XLV broke above a recent pivot high. We will look for continuation in these stocks.
We will continue adding to our winning positions and trimming any lagging stocks in our portfolio. Banks begin reporting earnings this week, with big banks on Friday.
Tune in live at 9:20 AM as we discuss the markets and potential trades this morning.
Happy trading,
Vinny
https://theclosingprint.com/CV_Blog/marketsmith-scan-stocks-near-pivot-breakouts/
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