Stocks continued to climb higher this past week, the S&P 500 closed at 1948. Analysts and investors alike are questioning if there is more upside to come or whether a big down move is at hand. These two charts that impact the markets dramatically, suggest dramatic further upside next week.
The iShares Nasdaq Biotechnology (O:IBB) (ETF) has inched off its lows and is consolidating with a beautiful bull flag above the 20 daily moving average. This is an extremely bullish chart for the next week. The signals show significant upside next week for biotechs and we know the market generally trades with them.
Deutsche Bank (DE:DBKGn) AG NA O.N. (N:DB) is another major player in the markets these days. How Deutsche Bank trades, so trades the stock market. This European mega bank has been crushed on fear of over exposure to oil debt. However, it has an amazing bullish daily chart, much like the NASDAQ Biotechnology Index is showing. This chart setup shows investors more upside is coming.
