Even though the indices trended higher today, it felt like we weren’t moving at all.
Tomorrow is Friday, and for the past few weeks they’ve been running the market higher. [Read more…]
Expert technical analysis of financial markets by JC Parets
by David
From the Desk of Kimmy Sokoloff
Even though the indices trended higher today, it felt like we weren’t moving at all.
Tomorrow is Friday, and for the past few weeks they’ve been running the market higher. [Read more…]
by JC
If this is a bull market, then what comes next?
Breadth Expansion.
More upside participation.
Sector Rotation.
The list of the 52-week highs getting longer.
We’ve been betting that this is a bull market since last year. That has worked in our favor.
But what does the market need to do to reiterate that we are still, in fact, in a strong, healthy bull market?
More new highs.
Here’s a look at the NYSE new 52-week highs list creeping higher in recent weeks. [Read more…]
by David
The largest insider buy on today’s list comes in a Form 4 filing by the executive vice president and chief people officer of Stericycle $SRCL.
That purchase was worth $308,618.
by David
From the Desk of Kimmy Sokoloff
Let see what today brings.
I still think it would be healthy for the indices to pull in further.
$SPY closing its gap down to 422.92 would be a decent contraction.
From the Desk of Steve Strazza @Sstrazza
Welcome to The 2 to 100 Club.
As many of you know, something we’ve been working on internally is using various bottom-up tools and scans to complement our top-down approach. It’s really been working for us!
One way we’re doing this is by identifying the strongest growth stocks as they climb the market-cap ladder from small- to mid- to large- and, ultimately, to mega-cap status (over $200B).
Once they graduate from small-cap to mid-cap status (over $2B), they come on our radar. Likewise, when they surpass the roughly $30B mark, they roll off our list.
But the scan doesn’t just end there.
We only want to look at the strongest growth industries in the market, as that is typically where these potential 50-baggers come from.
Some of the best performers in recent decades – stocks like Priceline, Amazon, Netflix, Salesforce, and myriad others – would have been on this list at some point during their journey to becoming the market behemoths they are today.
When you look at the stocks in our table, you’ll notice we’re only focused on Technology and Growth industry groups such as Software, Semiconductors, Online Retail, Solar, etc.
Then, like any good technician, we filter the list down to those closest to new highs.
This allows the cream of these strong groups to rise to the top and helps streamline our mission to identify technical breakouts in the top-performing stocks.
by David
From the Desk of Kimmy Sokoloff
It was a consolidation day for most of the indices, except $IWM.
I’d still like to see $SPY pull back to 423, but time will tell.
by David
This is the video recording of the June 7, 2023, Hot Corner Insider Weekly Strategy Session.
by David
The largest insider buy on today’s list comes in a Form 4 filing by Diversified Healthcare Trust $DHC director Adam Portnoy.
Portnoy reported a purchase of $9.8 million in the small-cap health care REIT.