57 closed below yesterdays close
48 closed above yesterdays close
83 closed below yesterdays high
22 closed above yesterdays high
So some weakening from earlier in the day, but overall 87.6% closed above yesterdays low, while 45.7% closed above yesterdays close, and 20.9% closed above yesterdays high.
isatrader
Fate does not always let you fix the tuition fee. She delivers the educational wallop and presents her own bill - Reminiscences of a Stock Operator.
The Weight of Evidence remains on a Defensive strategy based on the various market breadth measures that I track. So that means being more reactive and not taking unnecessary risk, as the market is trying to score against you. However, short term measures are already in, or close to the lower risk area in some breadth measures, so am alert to a chance of the current rebound attempt holding & following through back to the upside again. But with a Defensive strategy until the Weight of Evidence turns
Of yesterdays new positions: $IRNT stopped at 29.86 for -3.80% on the 1/3 position. So minor loss on that as only small position. But $HOOD making progress so far as is everything else, especially $ASAN today.
Carrying on the review of the 105 spring type action results from Monday, there are now only 2 below the Mondays low and 67 are now above Mondays high.
So some good progress today with 63.8% now following through compared to only 20.9% yesterday.
$CALX from the watchlist making another breakout attempt today. But volume remains low on the attempt, so good ease of movement, but lacking volume conviction so far.
A little bit over midway through the day and mostly green, with leadership in the energy sector and communication services lagging the most.
$SOFI from the watchlist strongly through the 50 day MA today, but hitting Anchored VWAP from May high today which is at 16.58, and still under the 200 day MA & year to date Anchored VWAP at 17.60
But the volume character change since late July looks like early CO (Composite Operator i.e large players / institutional) accumulation
$HOOD making some initial progress today with a Stage 2A breakout on strong relative volume on the intraday 30min timeframe chart. So now has two significant intraday bars with volume support which is defining the new range. Watching for how the backup range develops.
$ZS testing the +1x ATR level
$MDB from the watchlist rebounding well at the +1x ATR level today. Watching for continuation breakout attempt
isatrader
Fate does not always let you fix the tuition fee. She delivers the educational wallop and presents her own bill - Reminiscences of a Stock Operator.
$NFLX last highlighted in the daily watchlist the 19th August, and has had a strong intraday Stage 2 advance and is now starting to base again in Stage 1 after a failed Stage 4 breakdown attempt.
