Is the pullback over?
Have we put a bottom in?
Here’s SPY:
We’re still below the 30-week simple moving average but we are suddenly trending upward.
A break above the 30 SMA would be very bullish.
And if you love action, Vertex (VRTX) is definitely a stock that can give it to you. This stock has massive moves and massive falls.
Right now, it’s sprinting toward a possible breakout (after falling off a cliff not that long ago).
Here’s the chart for VRTX:
As you can see, this stock has been on a massive upward run.
A break above $519.388 could lead to a big move, especially if the market moves above that SMA.
We’ll keep an eye on it.
Happy trading,
Scott
