A few of todays strongest movers from the weekend watchlist - $AMBA, $F, $AMD, $SBLK
Recent IPO $GFS from the watchlist attempting to reclaim the +1x ATR level today
$LWLG highlighted a few times in early December and then formed an upthrust on the failed continuation breakout. But holding the 50 day MA and rebounding back above the 21 day EMA today. So potentially coming back into focus.
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.
$PYPL coming back into focus on the intraday charts, as it makes a Stage 1 base on the 2 hour and 4 hour timeframes with diminishing supply, and getting near to the end of the resistance zone from the Stage 4 decline. So on watch for an intraday Stage 2 breakout attempt.
Energy stocks from the watchlist following through today to the upside while Tech names are breaking down. Similar group rotation to what we saw through early 2021.
Traditional auto stocks following through strongly again today with a Stage 2 breakout to new highs in Toyota $TM and new highs for $F and $GM
$CTRA in the energy group Exploration & Production - moving through the 50 day MA and +1x ATR level today in the potential backup zone from the Stage 2 breakout.
$LQDA Stage 2 continuation breakout to new highs on strong relative volume today for this single digit midget. At the +3x ATR level, so getting extended. Hence will be watching for how it behaves relative to todays Significant Bar.
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.
Financials is another key area of interest as we start the year as numerous stocks in the sector are in positions near to a Stage 2 breakout or continuation & getting institutional volume. Be sure to look at the weekly charts, as it is easier to see the position in Stages.
Another thing to note is that Financials is the largest sector and so for the overall market to breakdown into Stage 4, it has to participate. So if it can instead breakout into Stage 2, then it would be a positive for the Weight of Evidence.
Energy sector has had the strongest start to the year and made a Stage 2 breakout attempt today
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.