After some stalling action into the end of last week and the start of this week, stocks started to show more sign of improvement mid-week, as biotech and semiconductors led the action higher. Despite the struggles over the past few weeks (in what’s historically been the most difficult seasonal period of the year), so far, all we’ve seen is routine consolidation in a long-term uptrend. The bulls aren’t out of the seasonal woods yet, and the week after Labor Day tends to be the most bearish week of the year, so we’re still keeping a tight leash on our trades, but we continue to push forward and dig through the charts in order to bring fresh ideas to our community.
Let’s take a look at some charts
At the time of this post, RevShark had no positions in any of the stocks mentioned.
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