From the Desk of Kimmy Sokoloff
The market is rallying before the August PPI print at 8:30 a.m. ET.
There’s a gap on $SPY at 449.17 that could potentially get filled today.
Expert technical analysis of financial markets by JC Parets
by David
From the Desk of Kimmy Sokoloff
The market is rallying before the August PPI print at 8:30 a.m. ET.
There’s a gap on $SPY at 449.17 that could potentially get filled today.
From the Desk of Steve Strazza @Sstrazza and Alfonso Depablos @AlfCharts
With the stock market trading sideways for the past two months, we’re still finding pockets of strength and individual names that offer favorable risk-reward opportunities.
While we do want to be more selective through this corrective phase, we also don’t want to miss anything. The bull market is still alive and well. This kind of sector rotation and digestion of gains is nothing out of the ordinary. While it plays its course, we want to continue to bet on leaders.
Let’s dive in and check out some of our favorite setups from our Hot Corner universe this week.
by David
From the Desk of Kimmy Sokoloff
What a wacky, whippy market.
We’re stuck under resistance on $SPY at 447.14 or so.
We still have headwinds, with August PPI tomorrow and the Fed next week.
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 Steve Strazza and Alfonso Depablos
The largest insider buy on today’s list comes in a Form 4 filing by Carl Icahn.
Icahn revealed a purchase of $7.8 million in Southwest Gas Holdings $SWX. [Read more…]
by David
From the Desk of Kimmy Sokoloff
We have August CPI data coming out at 8:30 a.m. ET.
I’ll look for ideas after the release, as I expect volatility.
by David
From the Desk of Kimmy Sokoloff
The market is waiting for August CPI data on Wednesday morning.
It felt like we were at a standstill.
by David
From the Desk of Steve Strazza and Alfonso Depablos
The largest insider transaction on today’s list comes in a Form 4 filed by Coliseum Capital Management LLC.
The hedge fund reported a purchase of ModivCare Inc $MODV shares with a total value of $6.4 million. [Read more…]