There’s been plenty of talk lately about how dull the action on the surface has been. With a never-ending stream of shake-your-head-in-disbelief headlines, it seems reasonable that market volatility would pick up, but that just hasn’t been the case. Instead, the indices have been stuck yet again in another narrow trading range, with very little movement on a day-to-day basis. You have to go back to 1996 to find another instance where the S&P 500 went this long without dropping more than 1% in a session.
Fortunately for active investors, while the big index ETFs haven’t been offering up movement, there’s been some good action in individual stocks. Earnings season has produced some strong winners, and there’s been some speculative juiced flowing under the surface.
Generally speaking, the current broader profile favors the bulls, as does the fact that the market has a strong track record following a positive January. As always, we need to be watching for signs of cracks in the trend, but for now, we continue to press forward and focus on high-odds chart set-ups.
Let’s take a look at some charts.
Phibro Animal Health Corp (NASDAQ:PAHC)
Cypress Semiconductor Corporation (NASDAQ:CY)
Novanta Inc (USA) (NASDAQ:NOVT)
Pulmatrix Inc (NASDAQ:PULM)
At the time of this post, RevShark had no positions in any of the stocks mentioned.