The healthcare sector is one of only two (technology being the other) that is currently outperforming as a whole. Below is the GoNoGo Chart of Eagle Pharmaceuticals Inc.
As we can see, price has moved strongly from the lows in June and the “Go” trend has been in place since then. The GoNoGo Oscillator has found support at the zero line and stayed in positive territory throughout. Now, the sideways consolidation since the highs in July have caused the GoNoGo Oscillator to ride the zero line and the climbing grid of the GoNoGo Squeeze to rise to its extreme. We will look to see if the oscillator can find support and break out of the Squeeze into positive territory and if it does we can expect an attempt for highs above $50.