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Pharma Update: MRK and LLYOn Wednesday (6/24/26), this is what we discussed about MRK:MRK as well, which we see on my attached Daily Chart exhbits a VERY BULLISH technical setup-- quite the opposite of beleaguered PFE. My pattern work argues that all of the price action from the 2/25/26 high at 125.14 represents a high-level bullish digestion period and pattern atop the major upleg from the May 2025 low at 73.31. The conclusion of the bullish digestion period could be within a matter of days, or extend into early July, but from my perspective, as long as any forthcoming weakness is contained above 115.
With the metals approaching our initial target zones to mark the end of this correction which began in January, I have personally now deployed approximately 50% of the capital I have designated for buying mining stocks. And, if I may remind you, our MMA analysts have put out a buying list of individual mining stocks earlier this week. So, let’s look at each of the charts individually.
Today the market moved higher overnight, only to drop sharply in the early morning session. Since then, we have been range-bound between the overnight high and the morning low. While the action was certainly volatile this morning, the overall count has actually not changed at all, and today's action has put us right back where we were at yesterday's close. I am still viewing the same three counts that I laid out yesterday as viable, and until we see a break of the support or resistance levels discussed yesterday, they will all remain in play.
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