Improving upside momentum has both the S&P 500 and Nasdaq Composite ready for another leg higher.
The small and mid-cap stocks have been in a tight price range in recent days, and closing above their 200-day averages would be positive.
The Biotech Sector recently broke out of a consolidation pattern and is poised for another leg higher. We would be adding selectively to this group.
The iShares Tech-Software ETF (IGV) had a sharp price reversal from support and looks to go a lot higher.
There are several stocks there that screen well.
I have attached a couple charts below of the S&P 500 Index and Nasdaq composite. See notes on the charts.
S&P 500 Index Chart
Nasdaq Composite Chart
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