- 1 Market Insight
- 2 The Indexes
- 3 Sectors & Industry Groups
- 4 1 Week – To be updated soon
- 5 4 Week – To be updated soon
- 6 Focus List
- 7 Swing Trade Ideas
- 8 Watchlists
- 9 Video
- Economic Events
- Index Volume
- Portfolio Updates
The major indexes all continued to make healthy, constructive progress last week. The DOW is still leading the pack higher, while the NASDAQ continues to lag.
Fortunately, the Russell 2000 and S&P 500 are now much closer to reclaiming their long-term downtrend lines like the DOW.
Also, the distribution count still stands at 2 days on each major index, which is considered low and not at all a concern.
Despite three out of four major indexes continuing to trade below their long-term downtrend lines, the market's leadership has been robust, especially over the last week or so.
This is the key. As long as we continue to see improvement in the health, breadth, and strength of the market's leadership over the next week or two, there is a very high probability that the major indexes will ultimately follow.
Regardless, we now have enough evidence to begin initiating and building positions.
Never forget, the principles of progressive exposure and financing risk along the way are always in play, no matter what. This never changes.
Continue to keep a close eye on how rotation is taking shape as we move forward from here and be sure to maintain an updated watch list of the strongest stocks, in the strongest groups.
Set alerts on your most actionable names and be ready to buy these potential leaders as entry areas present themselves.
As we always say, first and foremost manage your risk and the money will be sure to follow.
The NASDAQ continued to consolidate in a constructive manner just above logical support. The tech-heavy index now looks about ready to continue higher from here.
The S&P 500 continued to consolidate constructively just a hair below its key 200-DMA last week. Its 200-DMA and then its long-term downtrend line are the next two significant areas of key resistance it needs to overcome from here.
The Russell 2000 managed to closed above its key 200-DMA on Friday, and is now trading slightly below its long-term downtrend line. The small-cap index is still in better shape than the NADAQ and S&P 500, but still has some work to do to catch the DOW.
The DOW is still clearly the strongest major index of the four. The industrial average rallied for the last three days in a row, making higher highs each day and has little resistance to contend with immediately overhead.
Sectors & Industry Groups
1 Week – To be updated soon
4 Week – To be updated soon
Potential Leadership Groups
- MEDICAL-BIOTECH/PHARMA SYSTEMS & EQUIP, ENERGY-OIL/GAS/COAL, ALTERNATIVE ENERGY-SOLAR, TECHNOLOGY – SEMIS/SOFTWARE/NETWORKING, BUILDING & RELATED, MATERIALS – STEEL, FINANCIAL- BANKS/BROKERS/SPECIALTY SERVICES, RETAIL – DISCOUNT/SPECIALTY, AGRI/CHEM. COMMERCIAL SERVICES, AEROSPACE/DEFENSE
Watch AZPN for a big volume move through $251.85, with a sell stop at its 50-DMA.
Watch CRDO for a big volume move through $15.41, with a sell stop at $15.00.
Watch ETSY for a big volume move through $122.14, with a sell stop at its 10-DMA.
Watch AAON for a big volume move through $80.49, with a sell stop at its 10-DMA.
Watch CEIX for a big volume move through $70.29, with a sell stop at $66.71 &/or on a big volume move through $73.99, with a sell stop at $70.29.
Watch BMRN for a big volume move through $97.76, with a sell stop at $95.00.
Watch ISRG for a big volume move through $267.67, with a sell stop at its 10-DMA.
Watch REGN for a big volume move through $764.59, with a sell stop at its 50-DMA.
Swing Trade Ideas
Swing Trade Ideas contains a mixture of stocks. When the market is in a healthy uptrend, there will tend to be an overflow of stocks that were left out of the Focus List because they looked less actionable, despite being of similar fundamental quality, or were of lower fundamental quality altogether than the stocks included in the Focus List section above.
Because this section also includes stocks that are at times, devoid of fundamentals and typically only included for technical reasons, extreme care should be taken when trading these names. These stocks are there for experienced traders with a shorter time frame, that has a thorough understanding of position sizing risk and management.
CP – Constructive Pullback
PP – Pivot Point
SS – Sell Stop
TS – Trailing Stop
ACLS – PP $80.24, SS 10-DMA.
ASML – PP $610.00, SS 10-DMA.
CALX – PP $70.69, SS $69.00.
GFS – pp $67.97, SS 10-DMA &/or CP $65.96, $63.00.
HLIT – PP $15.00, SS $14.40.
IRDM – PP $53.36, SS 10-DMA.
MTSI – PP $72.64, SS 10-DMA.
NTNX – PP $28.73, SS 10-DMA.
ON – PP $76.05, SS 10-DMA.
PDFS – PP $31.13, SS $30.00.
RMBS – PP $38.00, SS 10-DMA.
SANM – PP $67.32, SS 10-DMA.
ADM – PP $98.28, SS 21-DMA. LF $96.00, TS 23-EMA.
ARRY – CP $21.54, SS 23-EMA. LF $21.54, SS 23-EMA.
AXON – PP $193.85, SS 10-DMA.
BA – PP $179.32, SS 10-DMA.
CELH – CP $100.51, SS 10-DMA. LF $100.51, SS 10-DMA.
DHI – PP $85.00, SS 10-DMA.
GS – PP $389.58, SS 10-DMA.
HEES – PP $42.82, SS 10-DMA.
HRB – CP $42.00, SS 50DMA. LF $42.00, SS 50DMA.
MAXN – PP $23.00, SS 10-DMA. LF $23.00, SS 10-DMA.
NRDS – CP $14.05, SS 10-DMA.
SPWR – PP $24.41, SS 10-DMA.
AKRO – CP $43.52, SS 10-DMA.
AMGN – PP $291.60, SS 10-DMA.
ASND – PP $122.80, SS 23-EMA.
AXSM – PP $60.00, SS $57.00.
BIIB – PP $305.48, SS $300.00.
CPRX – CP $16.66, SS 10-DMA.
HALO – PP $54.88, SS 10-DMA.
INMD – PP $36.37, SS 23-EMA. LF $36.37, SS 23-EMA.
KRTX – PP $237.34, SS 23-EMA.
MACK – PP $12.50, SS 10-DMA.
MRNA – PP $188.65, SS 10-DMA.
PCVX – PP $46.03, SS 21-DMA.
PFE – PP $49.82, SS 200-DMA.
PRCT – PP $46.73, SS $44.70 &/or CP $44.70, SS 23-EMA. LF $44.70, SS 23-EMA.
PRTA – PP $62.81, SS 10-DMA.
SRPT – PP $118.00, SS $116.00.
STEM – PP $14.83, SS $14.00.
UTHR – PP $270.44, SS 10-DMA.
VRNA – PP $13.60, SS $13.00.
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