Don't Ignore This Chart!

Intuitive Surgical Gets off to a Strong Start


Not many stocks are currently up year to date and those that are show good relative strength in the face of broad selling pressure. Of the 1500 stocks that make up the S&P 500, S&P MidCap 400 and S&P Small-Cap 600, I count around 250 with year-to-date gains on Wednesday morning (3-day Rate-of-Change). That is around 16%, which means around 84% of these stocks are down year-to-date. That shows broad selling pressure. Intuitive Surgical (ISRG) is bucking the selling pressure with a 1.25% gain year-to-date and a new high in the price relative (ISRG:SPY ratio).  The stock is above its rising 50-day moving average and rising 200-day moving average. Also notice that the 50-day is above the 200-day. The trend is still up on this stock. 

Thanks for tuning in and have a good day!
--Arthur Hill CMT

Plan your Trade and Trade your Plan

Arthur Hill
About the author: , CMT, is the Chief Technical Strategist at Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London. Learn More
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