BioTech And Stay At Home Stocks Show Delta Worries

The major indices like SPY QQQ have held up well despite talks of the delta variant though peeling back a few layers shows that there are underlying concerns. Many biotech, cloud software, and stay at home names are showing strong chart patterns that are poised to move higher. Among those names are IBB GILD ZM CRM and SNOW . Meanwhile other stay at home related stocks have already run wild altogether - ADBE DOCU IGV BNTX MRNA . Investors should be cautious as these stocks may be signaling weakness in Q4 as variant fears are causing more and more corporations to require masks and as inflation gets out of hand on Main street, which could ultimately slow growth as the middle and lower class are forced to tighten belts.