TraderLion Report No. 12 | TraderLion

Trend

+
7
Market Cycle

Sentiment

• Economic Events
• Index Volume
• Portfolio Updates
• Watchlists
• 
  Video
  

Market Insight

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 Indexes

NASDAQ

Tickers: None

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.

S&P 500

Tickers: None

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.

Russell 2000

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.

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

Focus List

AZPN

Watch AZPN for a big volume move through $251.85, with a sell stop at its 50-DMA.

CRDO

Watch CRDO for a big volume move through $15.41, with a sell stop at $15.00.

ETSY

Watch ETSY for a big volume move through $122.14, with a sell stop at its 10-DMA.

AAON

Watch AAON for a big volume move through $80.49, with a sell stop at its 10-DMA.

CEIX

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.

BMRN

Watch BMRN for a big volume move through $97.76, with a sell stop at $95.00.

ISRG

Watch ISRG for a big volume move through $267.67, with a sell stop at its 10-DMA.

REGN

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.

Watchlists

ACGL ALNY ANF AXSM BBWI BMRN BURL CALX CELH CHWY CHX DGII DICE ELF FSLR GILD INBX ISEE MANU MEDP NUVL PDSB PI PRTA PRVB SMCI SWAV TMDX TMUS UTHR WING

ABNB AMPX ARHS ARRY ASAN ASO CEG CPNG CRBG DOCS EE EMBC ESAB GFS MBLY NRDS OWL PSNY RIVN SGML STEM TPG UDMY YOU

AEHR ALDX AMLX APPS ATNM BCAB COGT CPRX FDMT GRWG IMVT MAXN MGNI MNSO MRSN NINE RVNC RVPH RYAM RYTM SE TGTX TH

A AAON ABBV ABCL ACDC ACLS ACLX ADM AEHR AKRO ALGM AMGN AMKR AMLX AMPX AMR ANET ARGX ARRY ASML ASND ATNM AXON AXSM AZPN BA BCYC BHVN BIIB BMRN CAH CALX CCRN CEG CEIX CELH CF CLFD CMG CPRX CRDO CROX CTKB CTVA CVLG DAWN DE DECK DGII DHI DICE DIOD DXCM ELF EOG EQT ETSY EXTR FCFS FDMT FIX FLR FN FREY FSLR FUTU GFS GILD GLP GMAB GS HAE HAL HALO HDSN HEES HLIT HRB HRMY HZNP IBKR IMCR IMVT INBX INMD IONS IRDM ISEE ISRG IT KDNY KNSA KRTX KRYS LEGN LEN LSCC LULU M MACK MAXN MBLY MCD MCHP MEDP MELI MNSO MPC MRNA MRTX MSI MTSI MUR NBIX NDAQ NEX NOG NRDS NTNX NUVL OI OLK ON OXY PARR PCVX PDD PDFS PERI PFE PHM PI PODD PRCT PRM PRME PRTA PRVB QURE REGN RETA RJF RMBS RNR ROST RYTM SANM SCHW SFM SGML SHLS SILK SLB SMCI SPWR SPXC SRAD SRPT STBA STEM STLD STM TDW TH TJX TMCI TMDX TPG TSCO UDMY ULTA URI UTHR VRNA VRTX VTYX WEST WING WSC WWE XENE XOM XPOF ZYXI

Video