From the Desk of Kimmy Sokoloff
Yesterday, the $SPX pushed its way through the 50-day moving average at 3,860, then reversed course to close below it.
I mentioned this is a resistance level where the market might need a breather.
Expert technical analysis of financial markets by JC Parets
by David
From the Desk of Kimmy Sokoloff
Yesterday, the $SPX pushed its way through the 50-day moving average at 3,860, then reversed course to close below it.
I mentioned this is a resistance level where the market might need a breather.
by David
We got a new Form 13D from our favorite corporate raider yesterday, as Carl Icahn revealed an increased ownership stake in Southwest Gas $SWX.
Icahn now owns 9.8% of outstanding shares, a very slight uptick from the 9.7% he reported on September 7.
[Read more…]
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
Tech did not lead the way higher.
And the indices still chugged along.
From the Desk of Steve Strazza @Sstrazza and Alfonso Depablos @AlfCharts
Stocks are back in bear market rally mode for the second time since this summer!
Whether this is the beginning of a new bull market is something we can only know in hindsight.
Fortunately, defining the current rally appropriately is not a prerequisite for participating in it. And the latter is all we’re worried about.
We want to position ourselves in the strongest stocks from the strongest groups and use them as vehicles to benefit from the counter-trend move that’s underway.
We discussed this in more detail on today’s Strategy Session. Click here to review the recording and the chartbook.
Now, let’s dive in and check out some of our favorite setups from our Inside Scoop universe.
by David
This is the video recording of our October 26, 2022, Inside Scoop Weekly Strategy Session.
We retired our “Five Bull Market Barometers” in 2020 to make room for a new weekly post that’s focused on the three most important charts for the week ahead.
This is that post, so let’s jump into this week’s edition.
This week we’re looking at the stock from the capital goods sector. Stocks from his sector continue to show strength in a consolidation type of market setup.