Comments include: COST, ON, SYY, & TMO.
| COST Costco Wholesale Corporation ($900.34) - Retailing - COST broke a double bottom at $896 for a third sell signal since peaking in May at $1088. This brings the trend chart down to test the bullish support line, which would be violated with a move below $864. Additionally, the market and peer RS charts reside within one box of giving an RS sell signal for the first time since 2007 and 2015, respectively. From here, support beyond the bullish support line lies at $848, the December 2025 chart low. |
| ON On Semiconductor Corp. ($66.51) - Semiconductors - Shares of ON broke a double bottom at $68 as it continues to push lower. The low attribute name has weakened significantly, moving into a negative trend in July. Those with exposure should eventually cut it loose, but should wait for a rebound or consolidation given its oversold positioning nearing the bottom of the ten week trading band. |
| SYY Sysco Corporation ($78.41) - Food Beverages/Soap - SYY inched lower to complete a double bottom break at $79, marking its second consecutive sell signal. The 2 for 5'er moved down from a 3 last month after moving back to a negative trend. A sell can be considered here, given the weight of the evidence. Strong resistance can be seen at various levels between $84-$86. |
| TMO Thermo Fisher Scientific Inc. ($650.26) - Healthcare - TMO inched higher to complete a double top break at $648, marking its fifth consecutive buy signal and a multi-year intraday high. The 3 for 5'er is still rated a hold, but has shown much improvement from lows back in May. Additionally, the stock ranks in the top third of the healthcare sector matrix. Continue to wait for further improvement, as the stock is still rated a hold and sits in overbought territory. Initial support is at $600, with additional support at $560. |
