Bristol Myers Squibb

  • BMY

  • $58.45

  • +0.37%

  • $58.35

  • $58.47

  • $57.62

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Wed, August 28, 2024 | 11:32AM ET

⚡ FlashInsights

Wed, August 28, 2024 | 11:32AM ET
Mark
Mark L. Newton, CMT AC

Head of Technical Strategy
🔥 🔥 🔥
I'll take a brief break from discussing NVDA to mention that Equal-weighted Healthcare is on the verge of breaking back out to new all-time highs, something that XLV accomplished last month. Indeed, the top 5 performers today within SPX are all Healthcare related: PODD -1.72% , BIO 0.84% , BMY 0.37% , GILD -0.07% , and VRTX 0.48% . This sector has grown in appeal over the last couple months after a lackluster 1H 2024 and we've begun to see some very attractive basing patterns in XBI, IBB along with XHS and IHI that make this sector one to expect continued outperformance at a time when many remain solely focused on Technology. Given that Healthcare is the 2nd highest weighted Sector within SPX behind Technology, seeing strength in this sector is very constructive for the broader market and provides a "perhaps unnoticeable" tailwind. Ok, sorry for the diversion. Back to NVDA. (2 charts shown the first is MarketSurge Chart of Invesco's Equal-weighted Healthcare ETF (RYH) since early 2024 and the second is the same ETF, shown breaking out of its base since 2021)
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Daily Technical Strategy
Thu, August 31, 2023 | 7:44PM ET
Mark
Mark L. Newton, CMT AC

Head of Technical Strategy

Upticks - August 2023

UPTICKS LAGGARDS MEANINGFUL MOVEMENT WORTH DISCUSSING AMONG CURRENT UPTICKS HOLDINGS BOSTON SCIENTIFIC (BSX -1.07% - $53.95) Source: Trading View BOSTON SCIENTIFIC (BSX -1.07% - $53.95) was added to my...

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Daily Technical Strategy
Mon, March 13, 2023 | 7:39PM ET
Mark
Mark L. Newton, CMT AC

Head of Technical Strategy

Healthcare springs to life as Financials nose-dive

The SPX’s near-term decline is ongoing, regardless of some brief stabilization attempts on Monday.  While US indices are now in the window for a possible...

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