Broader equity market momentum has slowed in the last few days but a look beneath the hood indicates significant strength in several sectors. In this issue of Equity Leaders Weekly, we take a closer look at sector action in the marketplace, particularly US homebuilding and Canadian junior gold stocks.
This 3-year candlestick chart highlights the strength of the current staircase accumulation pattern in Lowes Companies* shares with rallies followed by pauses at increasingly higher levels. The current rally phase kicked off with a rally on volume up off of $175 channel support followed by a successful retest of uptrend support near $200. Yesterday, the shares traded at a new all-time high above $250 intraday, indicating continuing investor interest.
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