For the watchlist from Wednesdays scans - AA, ALB, BBL, BP, CLR, CNQ, CVE, DCP, DVN, ELY, EOG, FANG, FCX, HGV, PDCE, PUMP, PXD, RIO, SM, SNAP, SU, TIGR, VALE, XEC, XOM
Energy and Materials sectors dominate the watchlist tonight after strong moves today, with many stocks in those groups starting up the right side of their right recent bases, while Tech stocks took a breather and pulled back after starting the day well.
So the whipsaw market continues, but is good to see continued rotation with more bases being built across the sectors.
For the watchlist from Thursdays scans - AMD, BILL, CELH, CREE, FOUR, GES, GOOGL, NET, NSTG, ROKU, SMH, UBER
A quiet and tight day in the market with low volume moves across most of the major indexes. A standout area for me was the Software group, which consolidated the strong volume moves earlier in the week, and will likely be my group in focus this weekend which I will go through on the private twitter account.
(2021-04-15, 10:13 PM)isatrader Wrote: A quiet and tight day in the market with low volume moves across most of the major indexes. A standout area for me was the Software group, which consolidated the strong volume moves earlier in the week, and will likely be my group in focus this weekend which I will go through on the private twitter account.
I've produced a breadth plot based on US Computer Software Prepackaged and the S&P Software Services ETF (I do not have the same index data as you). May not fully align with what you are looking at, and there are a few glitches.
For the watchlist from the weekend scans - AA, TSLA, KLIC, LRCX, LSCC, QRVO*, ZIM, KO, LPL, ACI, ADI, AOS, AXTA, AY, AYI, BSY, BTI, DVA, EHC, GRBK, KEYS, MTH, PGNY, SE, SEAS, SEE, TAP
Earnings season is underway with a few big names up this week with NFLX and ADBE
The watchlist is fairly mixed group wise this weekend, but Semiconductors again has the strongest showing with multiple names consolidating their recent moves and forming right sides of bases. So potential for a continuation breakout in the group to keep an eye on.
I normally post stocks that have just broken out. However, these are on my watchlist in case they break out, so they might break out soon. A few charts have anomalous data, rogue high values, which has messed up the scaling. I hope no-one minds. I have previously bought and sold FLR, hence the markers present on that chart.
Forest to the Trees method – Industry Groups Relative Strength Rankings
The top down approach is part of Stan Weinstein's & Wyckoff's methods. So each week I do a Group Focus for the Stage Analysis members in the private twitter feed. The recent ones have been:
Home Improvement Retailers - 3/21
Home Construction - 3/28
Semiconductors - 4/3
Internet - 4/11
Software - 4/18
104 Dow Jones Sector Industry Groups
104 Dow Jones Sector Industry Groups sorted by Relative Strength. Purpose is to track RS changes across the groups each week using stockcharts SCTR rating.
Attached current top 50 sectors plus sectors with the strongest moves this week and YTD
