Insurance Resuming Uptrend

Insurance ($IUX.X | Quote | Chart | News | PowerRating) is beginning to rally out of its first pullback since its melt-up from lows. Continue to look for buying opportunities in calls and call spreads here.

Once again, the drugs ($DRG.X | Quote | Chart | News | PowerRating) and healthcare ($HCX.X | Quote | Chart | News | PowerRating) are in a pattern somewhat similar to insurance. Continue to look for buying opportunities in calls and call spreads here.

Looking Ahead

Many sectors that were in pullbacks from lows have failed to follow through to the downside. These include retail, broker/dealer and biotech. They may set up on the long side soon, provided, of course, their rallies continue.

Best of luck with your trading on Thursday!