BioTech And Stay At Home Stocks Show Delta Worries
The major indices like
SPY
QQQ
have held up well despite talks of the delta variant though peeling back a few layers shows that there are underlying concerns. Many biotech, cloud software, and stay at home names are showing strong chart patterns that are poised to move higher. Among those names are
IBB
GILD
ZM
CRM
and
SNOW
. Meanwhile other stay at home related stocks have already run wild altogether -
ADBE
DOCU
IGV
BNTX
MRNA
. Investors should be cautious as these stocks may be signaling weakness in Q4 as variant fears are causing more and more corporations to require masks and as inflation gets out of hand on Main street, which could ultimately slow growth as the middle and lower class are forced to tighten belts.
SPY
QQQ
have held up well despite talks of the delta variant though peeling back a few layers shows that there are underlying concerns. Many biotech, cloud software, and stay at home names are showing strong chart patterns that are poised to move higher. Among those names are
IBB
GILD
ZM
CRM
and
SNOW
. Meanwhile other stay at home related stocks have already run wild altogether -
ADBE
DOCU
IGV
BNTX
MRNA
. Investors should be cautious as these stocks may be signaling weakness in Q4 as variant fears are causing more and more corporations to require masks and as inflation gets out of hand on Main street, which could ultimately slow growth as the middle and lower class are forced to tighten belts.