Nightly Update- INDU,BTK,IIX, & NWX

Dow Jones Industrial Average (INDU) - Daily chart
It is hard to say what type of pattern is occurring on the INDU daily chart. It may be forming a large ascending triangle and within that pattern, is a smaller Reverse symmetrical triangle. All I want you to know is that the chart of the INDU is looking bullish. Today the INDU, broke out of a bull flag and is up 0.82% at 10953.95

The Biotechnology Index (BTK)-Daily chart
As you can see by looking at the daily chart of the BTK it is forming an ascending triangle. The BTK remains in a bullish trend reversal; indicators and oscillators are bullish. Today I want to cover the Biotechnology index because as you are probably aware, the main theme in our current portfolio are the Bio-pharma stocks. I want to rotate out of energy and into these high beta momentum stocks. GPRO, CEPH, CELG, and NBIX are our main picks for this sector. I am bullish on this sector and on these stocks despite their volatility. Today the BTK, up 0.76% at 718.36.

The Internet Index (IIX)-Daily chart
As you can see by looking at the daily chart of the IIX, it is forming an ascending triangle. It has just completed a wave 3 to 4 pullback. The IIX remains in a bullish trend reversal; indicators and oscillators are bullish. Today the IIX is down 0.21% at 184.33. The strength in this sector should be good for GOOG.

The Networking Index (NWX)-Daily chart
As you can see by looking at the daily chart of the NWX it is forming an ascending triangle. It has just completed a wave 3 to 4 pullback. The NWX remains in a bullish trend reversal; indicators and oscillators are bullish. Today the NWX, is up 1.78% at 251.45.


The bottom line: get out of commodities and into high beta momentum stocks.

DOW

$BTK (CEPH, NBIX, GPRO, CELG, PPH, BMET) MIX OF ALL CRAP STOCKS THAT SHOULD GO HIGHER

$IIX

$NWX

DOW FUTURES