We had a nice week for the bulls as we continued to climb to potential price and moving average resistance overhead for several indexes and sectors. This is perfectly aligned with the start of earnings season which is likely going to help determine if we will be moving higher or potentially testing new lows. The government shutdown is now officially the longest in history and it does not appear as though either side is going to budge. The longer this goes on it is possible that it will begin to weigh on the markets and the economy. For the last couple of weeks I have suggested the IBB could be the sector to lead us out of this bear market. We have had a very dramatic move higher in the space and to be fair several other indexes and sectors, What do I think now? Where do I see the next hot sector short term? Watch this weeks video and find out.
This weeks video
Last weeks Pro member stocks to watch and their performance for the week.
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Highly anticipated earnings for next week
Source Earnings Whispers .com