{"id":1974,"date":"2022-03-25T21:54:05","date_gmt":"2022-03-25T21:54:05","guid":{"rendered":"https:\/\/linksus.net\/this-group-of-stocks-is-flagging-a-rebound-and-thats-good-news-for-the-sp-500-says-technical-analyst-marketwatch\/"},"modified":"2022-03-25T21:54:05","modified_gmt":"2022-03-25T21:54:05","slug":"this-group-of-stocks-is-flagging-a-rebound-and-thats-good-news-for-the-sp-500-says-technical-analyst-marketwatch","status":"publish","type":"post","link":"https:\/\/linksus2.linksus.net\/index.php\/2022\/03\/25\/this-group-of-stocks-is-flagging-a-rebound-and-thats-good-news-for-the-sp-500-says-technical-analyst-marketwatch\/","title":{"rendered":"This group of stocks is flagging a rebound, and that's good news for the S&P 500, says technical analyst – MarketWatch"},"content":{"rendered":"

Stocks have kicked off Tuesday\u2019s trading on a stronger note, as oil trails and markets keep one eye on hawkish Fed talk and another on the brutal battle for Ukraine.
Some of that positivity may come from the fact investors look ready to choose higher rates over higher inflation, with the former seen as less toxic for companies in the longer run, said Ipek Ozkardeskaya, senior analyst at Swissquote.\u00a0
Read:<\/strong> Jerome Powell leaves door open for rate hikes larger than 25 basis points<\/a>
While everything can change in a minute, investors might be wondering what it will take for the S&P 500 to build on last week\u2019s 6% rally. Our call of the day<\/strong>, from MKM Partners\u2019 chief market technician, JC O\u2019Hara, advises watching for signs of stabilization in areas that were first hit in the leg downward.
And biotech is fitting that theme, he said. \u201cThe S&P 1500 Biotech group of stocks is bouncing exactly where it should.\u201d He zeroes in on two charts, from Ionis Pharmaceuticals IONS, -0.68%<\/bg-quote><\/a> and Moderna MRNA, -7.66%<\/bg-quote><\/a>,<\/span> the latter which is holding a vaccine day presentation for investors on Thursday.
It\u2019s not just biotech. \u201cThere are more and more pharmaceutical charts breaking out to new highs in a tape that saw plenty of bear market moves from individual names,\u201d said O\u2019Hara, as he flagged bullish charts from Bristol Myers Squibb BMY, +1.20%<\/bg-quote><\/a>,<\/span> Corcept Therapeutics CORT, -0.62%<\/bg-quote><\/a>,<\/span> Harmony Biosciences HRMY, +1.87%<\/bg-quote><\/a>,<\/span> Innoviva INVA, -0.31%<\/bg-quote><\/a>,<\/span> Johnson & Johnson JNJ, +0.96%<\/bg-quote><\/a>,<\/span> Eli Lilly LLY, +0.46%<\/bg-quote><\/a>,<\/span> and Pacira BioSciences PCRX, +1.16%<\/bg-quote><\/a>.<\/span>
O\u2019Hara also likes European pharmaceutical stocks. \u201cWhile geopolitical concerns remain front and center in Europe, pharma seems to be a good place to put capital to work.\u201d
He sees bullish charts on the following names: ALK-Abello ALK.B, +4.39%<\/bg-quote><\/a>,<\/span> AstraZeneca AZN, -1.35%<\/bg-quote><\/a>,<\/span> Bayer BAYN, +1.83%<\/bg-quote><\/a>,<\/span> GlaxoSmithKline GSK, -0.05%<\/bg-quote><\/a>,<\/span> Ipsen IPN, -1.12%<\/bg-quote><\/a>,<\/span> Novartis NVS, +0.25%<\/bg-quote><\/a>,<\/span> Novo Nordisk NVO, -1.33%<\/bg-quote><\/a>,<\/span> Roche ROG, +0.56%<\/bg-quote><\/a>,<\/span> Sanofi SNY, +0.66%<\/bg-quote><\/a> and UCB UCB, -0.60%<\/bg-quote><\/a>.<\/span>
As for that 6% S&P 500 rally last week, O\u2019Hara said the most positive takeaway was a close above the key 4,400 level.
\u201cThe magnitude of the move was impressive, but the levels broken above are what we need to focus on,\u201d said O\u2019Hara, who noted other \u201cbullish action,\u201d such as the Russell 2000 RUT, +0.12%<\/bg-quote><\/a> and Nasdaq 100 indexes COMP, -0.16%<\/bg-quote><\/a> breaking above intermediate downtrends. And the Stoxx Europe 600 regained a level seen the day Russian launched its attack on Ukraine.
Ukraine forces claim to have recaptured a key suburb in Kyiv, while the battle for Mariupol rages on and strategists say a stalemate situation is building. President Vladimir Zelensky says he\u2019s ready to discuss a deal for a Russian cease-fire<\/a>.
Accounts, yachts, private jets, properties in London, Italy and France worth more than $17 billion<\/a> have been connected to Russian officials with close ties to President Vladimir Putin, plus dozens of oligarchs.
Nike NKE, +1.23%<\/bg-quote><\/a> reported stronger-than-expected earnings and sales<\/a>, lifting shares in premarket, and bucking worries about slumping China sales.
Chinese e-commerce giant\u00a0Alibaba BABA, -1.88%<\/bg-quote><\/a> boosted its buyback program to $25 billion.<\/a>
The Okta\u00a0 OKTA, -4.42%<\/bg-quote><\/a> authentication company said it\u2019s investigating images appearing to show a hack of its internal system. That hack is believed to be Brazil-based, though the U.S. has warned at least 100 companies to brace for Russian cyberattacks.
The data calendar is empty but we\u2019ve got more Fed speakers ahead \u2014 New York Fed President John Williams, San Francisco President Mary Daly and Cleveland President Loretta Mester.
A tracking tool from Reclaim Finance finds that of 150 financial institutions are still working with oil and gas companies <\/a>despite their green promises.
Stocks DJIA, +0.44%<\/bg-quote><\/a> SPX, +0.51%<\/bg-quote><\/a> COMP, -0.16%<\/bg-quote><\/a> are higher, while oil prices CL00, +0.25%<\/bg-quote><\/a> NQ00, -0.08%<\/bg-quote><\/a> struggle for traction<\/a>. Treasury yields TMUBMUSD10Y, 2.478%<\/bg-quote><\/a> are charging higher, while gold GC00, -0.23%<\/bg-quote><\/a> and the dollar DXY, +0.02%<\/bg-quote><\/a> step back.
Equities were mixed in Asia NIK, +0.14%<\/bg-quote><\/a> 000300, -1.80%<\/bg-quote><\/a>,<\/span> but moved higher in Europe SXXP, +0.11%<\/bg-quote><\/a>.<\/span>
Cryptocurrencies are also having an upbeat day, with bitcoin BTCUSD, -0.10%<\/bg-quote><\/a> surging to a two-week high<\/a> and Ether ETHUSD, -0.27%<\/bg-quote><\/a> also climbing.
These were the top-searched tickers on MarketWatch as of 6 a.m. Eastern.
Russia didn\u2019t embrace Arnold Schwarzenegger\u2019s video message<\/a> about the Ukraine war.
The founder of the World Central Kitchen makes a plea for instant translated messages from WhatsApp.<\/a>
Need to Know starts early and is updated until the opening bell, but\u00a0sign up here<\/a>\u00a0to get it delivered once to your email box. The emailed version will be sent out at about 7:30 a.m. Eastern.<\/strong>
Want more for the day ahead? Sign up for\u00a0The Barron\u2019s Da<\/a>ily, a morning briefing for investors, including exclusive commentary from Barron\u2019s and MarketWatch writers.<\/strong>
Shares of major marijuana stocks rise Friday after the House said it would consider a bill to decriminalize cannabis. But the enthusiasm may be unwarranted, analysts warn.
Barbara Kollmeyer is an editor for MarketWatch in Madrid. Follow her on Twitter @bkollmeyer.<\/p>\n

source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Stocks have kicked off Tuesday\u2019s trading on a stronger note, as oil trails and markets keep one eye on hawkish Fed talk and another on the brutal battle for Ukraine.Some of that positivity may come from the fact investors look ready to choose higher rates over higher inflation, with the former seen as less toxic […]<\/p>\n","protected":false},"author":869,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[],"tags":[],"_links":{"self":[{"href":"https:\/\/linksus2.linksus.net\/index.php\/wp-json\/wp\/v2\/posts\/1974"}],"collection":[{"href":"https:\/\/linksus2.linksus.net\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/linksus2.linksus.net\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/linksus2.linksus.net\/index.php\/wp-json\/wp\/v2\/users\/869"}],"replies":[{"embeddable":true,"href":"https:\/\/linksus2.linksus.net\/index.php\/wp-json\/wp\/v2\/comments?post=1974"}],"version-history":[{"count":0,"href":"https:\/\/linksus2.linksus.net\/index.php\/wp-json\/wp\/v2\/posts\/1974\/revisions"}],"wp:attachment":[{"href":"https:\/\/linksus2.linksus.net\/index.php\/wp-json\/wp\/v2\/media?parent=1974"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/linksus2.linksus.net\/index.php\/wp-json\/wp\/v2\/categories?post=1974"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/linksus2.linksus.net\/index.php\/wp-json\/wp\/v2\/tags?post=1974"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}