Large caps back in focus today with 5 of the 6 watchlist stocks in household names and a few earnings gaps in the mix as you'd expect with earnings season getting underway this week. For the watchlist from Wednesdays scans - CALX, FB, GOOG, PYPL, SNAP, SPOT

For the watchlist from Tuesdays scans - CSIQ, FUTU, IRBT, JD, LSCC

For the watchlist from Mondays scans - AXTI, DOYU, GRWG, MAXR

The Nasdaq 100, Nasdaq and S&P 500 are all currently forming Cup with Handle patterns on their daily charts, with lower volume on the down days in the handle area. So there is potential for a continuation attempt higher in the coming weeks. Although the US Election is a wild card and Earnings Season is upon us from this week. So remember to focus on the price action and volume of the individual stocks (especially leading stocks) and not on the news headlines or talking heads on the financial news channels.

For the watchlist from Thursdays scans - ALGN, AVYA, BBY, IRBT, JMIA, SNAP, VEEV, ZM

For the watchlist from Wednesdays scans - AXTI, BIDU, CALX, FUV

For the watchlist from Tuesdays scans - ADAP, CRWD, LVGO, MGNI, NVAX, OTRK, PRTS, RH, SAIL, SPOT, TDOC, TNDM, YETI

As I highlighted at the weekend, the leading large cap stocks where in position for potential breakouts, and we got that today with the big FAANG names such as AAPL & AMZN and more making strong moves from their recent bases on strong relative volume, while the leading mid cap stocks mostly took a breather on lower volume. So with the strong market breadth, the Weight of Evidence is learning towards the bullish side again.

The weekend scans mostly produced a mix of leading large cap stocks and numerous gold miners, as the majority of leading tech stocks have already broken out over the last weeks. But if the large caps can join in, then would be good for the overall market, as well as the exceptionally strong market breadth we've seen this week. With the highest MA breadth reading of the year, and the financials finally joining the rally, with over 2/3rds now above their 150 day (30 week) MAs.

For the watchlist from Thursdays scans - AES, AOS, APHA, ATEC, AXNX, BCLI, FNGU, IRBT, JMIA, KNDI, MTH, TSLA, TW