Afternoon Update- ES,NQ,SMH, & NBIX

The S&P 500 Futures (ES)
The ES chart is bullish. Today ES, broke up out of the down trend line and above the 72% retracement level at 128167. Therefore, we are going to power up higher now. Also stochastics are bullish.

Nasdaq Futures (NQ)- NQ Daily chart
Nasdaq Futures are slightly above the down trend line at 169273. Is this that important and what do we look at? All that really matters is the price action. Price action always takes precedence over any indicators or oscillators.

Semiconductor Holders ETF (SMH)- Daily Chart
The SMH daily charts illustrates that it is in a diamond pattern. Diamond patterns are showing up all over the place in this market. Due to the weakness in INTC, I have been avoiding the SMH. I prefer AMD. However, the SMH did have a good day today. Furthermore, the Aroon had a bullish trend reversal and indicators and oscillators are starting to look bullish.

Neurocrine Biosciences, Inc. (NBIX) - Daily chart
The daily chart shows that NBIX is a possible triple top ascending triangle. NBIX is working it's way back up towards the break out line, once it takes out $65.70 it will break out and run higher up to wave 5. Indicators and oscillators are bullish.