Gilead Sciences

  • GILD

  • $89.75

  • -0.01%

  • $89.81

  • $90.06

  • $89.27

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

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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 0.40% , BMY -0.36% , GILD -0.01% , and VRTX 0.90% . 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
Mon, May 13, 2024 | 6:37PM ET
Mark
Mark L. Newton, CMT AC

Head of Technical Strategy

AAPL behavior gives confidence ahead of this week’s CPI print

EQUITIES HAVE EXTENDED GAINS AND HAVE NOW COME WITHIN STRIKING DISTANCE OF LATE MARCH PEAKS.   SPX HAS NEARLY RECAPTURED ALL OF THE PERIOD OF WEAKNESS...

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Daily Technical Strategy
Thu, August 10, 2023 | 8:02PM ET
Mark
Mark L. Newton, CMT AC

Head of Technical Strategy

Technical reasons why an Equity low is near

Schedule Update: I will be traveling on Friday (8/11) and there will be no Daily Technical Report nor Technical Video published. Daily technical strategy will...

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