Whole Foods Market Inc (WFMI) finished the week with a little uptick as volume spiked at the close on Friday but the weeks chart looks similar to Freddie Mac (FRE). Of course Freddie Mac dropped 43% this week while Whole Foods only dropped 6%. But the continued slide looks similar.

This has been a very difficult week for stocks and Thursday is looking to be another day of negative movement in the indexes. The index indicators are still showing a positive bias but with this weeks action they could signal a hold instead of a buy today or tomorrow.

A recent run-up in biotechnology shares has led to new highs for the iShares NASDAQ Biotechnology Index (IBB) Exchange Traded Fund (ETF).

Long the Ultra QQQ ProShares ETF (QLD) and Short the SPDR Gold Shares (GLD)

You may not have noticed today as a couple of financials led the markets lower but all four of the major averages have now triggered a buy signal. The Nasdaq Composite, The Dow Jones Industrials, The Russell 2000, and the Standard & Poors 500 are all signaling a rally has begun.

With a very nice 5 day run on high volume, Almost Family Inc (AFAM) still looks like a buy. With revenue growth close to 50% and earnings growth at 95% year over year for the current quarter, the stock trading at a 26 price/earnings is a good purchase.

Medical Stocks have been showing continued strength with the overall market uncertain if the correction has ended or the current uptrend is just a pause before another leg down for the markets. Celgene Corp is one of the strongest of the medical/biological companies that should continue to appreciate in value.

Of the four main indexes, the Nasdaq Composite, the Dow Jones Industrial, the Standard & Poors 500 and the Russell 2000, the Russell 2000 was the last to give a sell signal in mid-June and is now the first to give a buy signal.

The Casinos business has been under pressure for some time now with the US in a recession type environment and travel expenses escalating. Names such as Las Vegas Sands (LVS), MGM Mirage (MGM) and Wynn Resorts (WYNN) are grouped together as an industry having difficulty. MGM Mirage the weakest of the three with both declining revenue and earnings estimates.

Try building a short position in a name that has shown weakness.

    The stock of The Cheesecake Factory (CAKE) rallied slightly today off of it’s all time lows as the overall market rebounded strongly when presented with decent earnings, a drop in the price of oil, and a better than anticipated GDP number around the corner on Thursday. But Friday and thereafter could continue the downtrend the DOW Industrials has been following the last week.