We don't need no education...

We have a rally since almost a week. Was last week still awful and creating an oversold condition, than the market crawled back this week. Not really flamboyant, but still…

Now just to illustrate that on a technical basis not all is well, we show a chart of one of the market darlings of last week: the (adult) education sector.
Is the magic gone?

For Grand Canyon Education (ticker: LOPE) that seems to be the case. The 60-minute renko-chart is is turning negative.
The CCI is already going down for some time and now this downward movement is confirmed by the SAR.
So beware…..

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Darlings

Adult re-education is one of the new market darlings. Always dangerous. Names in this domain are ITT Educational (ticker: ESI), DeVry (ticker: DV) and Apollo Group (ticker: APOL).
Take ESI: this stock shot up 44% in two weeks time. Almost parabolic. Now, I am wondering what is driving the price? Earnings? I think some shorters of the sector are covering their bets. As soon as the action normalizes, lower prices will show up.

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