From the Desk of Steve Strazza @Sstrazza and Alfonso Depablos @AlfCharts
While the S&P 500 and other major averages made new lows last week, fewer stocks made new lows beneath the surface.
Not only is downside participation narrowing. But the list of new highs is slowly growing.
While it’s nowhere near where it needs to be to give us a bullish signal on the overall market, it is giving us a growing number of opportunities in individual names.
Let’s talk about some charts that we like buying (or preparing to buy) from our Inside Scoop universe right now.
The stock that has made its way to the ToW post this time around is from Bank Nifty. Slowly but surely, more and more constituents are moving higher and breaking out of big bases. Let's take a look at one such name.
Welcome to Under the Hood, where we'll cover all the action for the week ending October 14, 2022. This report is published bi-weekly and rotated with The Minor Leaguers.
What we do here is analyze the most popular stocks during the week and find opportunities to either join in and ride these momentum names higher, or fade the crowd and bet against them.
We use a variety of sources to generate the list of most popular names.
There are so many new data sources available that all we need to do is organize and curate them in a way that shows us exactly what we want: a list of stocks that are seeing an unusual increase in investor interest.