JNJ Breaks Out; Why Pharmas Could Lead The Market In 2018


This post is by Tom Bowley from StockCharts.com - Blogs


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Market Recap for Tuesday, January 9, 2018

It took quite a bit of effort for the bears to stop the bulls’ winning streak, but the bulls returned the favor on Tuesday with little effort at all.  Ho-hum, it was just another 100 point day for the Dow Jones.  It doesn’t seem to matter which sector or two take a pause as many others routinely step up to the plate.  Yesterday, the bulls turned to healthcare (XLV, +1.18%) and financials (XLF, +0.78%).  Pharmaceuticals ($DJUSPR) were the beneficiary of a significant price breakout in Johnson & Johnson (JNJ) as you can see below:

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