Approaching 82.50 target. If in it, consider taking profits as key price resistance is tested....keep reading

There's been plenty of rotation from value stocks to growth stocks over the past few weeks and that rotation is beginning to show up in improving growth stock charts. One such stock, Crocs, Inc. (CROX) saw slowing momentum in the form of a positive divergence on its mid-June closing low. On Thursday, CROX was able to post an 11% gain to finish above its 50-day SMA for the first time in 2022. That's very encouraging....keep reading

Up roughly 7% from the initial entry point at 11.26. Taking profits as it tests its 20 day EMA from underneath not a bad idea....keep reading

I love to find stocks that begin to provide corroborating bullish signals. The semiconductor industry ($DJUSSC) has begun to show relative strength right on cue. Over the past decade, the DJUSSC has outperformed the benchmark S&P 500 by more than 6 percentage points during the November through March time frame. From April through October, however, this aggressive technology group has outperformed by less than 3 percentage points. Historically, we've entered the sweet spot for semiconductors. That's good news for Monolithic Power Systems, Inc. (MPWR), which had struggled badly from August through October:...keep reading

There are some stocks, especially given the cyclical bear market that we've endured, that simply look like they'll never go up. Carnival Corp (CCL) definitely fits the bill....keep reading

We've had plenty of bullish signals over the past year, starting with positive accumulation signals as far back as June 2022, when I called a market bottom. Sentiment was a HUGE problem to start 2022, but throughout the year, we saw exactly what we wanted to see from our 2022 MarketVision event, held back on January 7, 2022. The extreme complacency was eradicated due to the cyclical bear market that finally ended on October 13, 2022. While I had already turned bullish based on "beneath the surface" factors, ultimately we would need visual technical evidence to confirm those beliefs. On the QQQ, that technical evidence was provided last week:...keep reading

I'm generally an optimistic person, especially when it comes to the stock market. But there are always two sides to a stock's story. Dynatrace, Inc. (DT) was an earnings-season darling after posting revenues and EPS that easily surpassed consensus estimates. DT jumped about 23% in 5 days after that quarterly report. Software stocks ($DJUSSW) have continued moving higher, while DT has returned to the "scene of the crime" (not really a crime, just a test of gap support):...keep reading

We've been trending higher for two months since that June market bottom, clearing key overhead resistance, so we need to be thinking "secular bull market". That means buying leading stocks in leading industry groups when they pull back and give us a great reward-to-risk opportunity. As one example, check out Quanta Services, Inc. (PWR), one of the leaders in a surging heavy construction group ($DJUSHV):...keep reading

Thus far, communication services (XLC) has been the leading sector in 2023. The XLC is up 23.13% year-to-date, while both technology (XLK) and consumer discretionary (XLY) are strong as well, gaining 20.06% and 12.55%, respectively. No other group is up more than 3%. This is actually good news as Wall Street is POURING its resources into the most aggressive sectors. You wouldn't do that if you felt the stock market was overvalued and poised for a plunge. One of the keys for the market here in Q2 is the XLC. While it's been strong so far in 2023, there's plenty of work left to do on its chart....keep reading

Hasn't triggered entry, but it's working its way closer to our initial entry at 35.50. Nice volume on today's reversal though. Short-term support can be found close to 36.40 for anyone wanting to begin to build a position earlier....keep reading

Breaking out above 5.25 on fairly strong volume. I may need to reconsider our trading strategy on this one like HAR...keep reading

Every month, we provide our EarningsBeats.com members a Seasonality Report. We've already seen a number of our May seasonality stocks jump and LYV joined the crowd on Friday. After reporting blowout quarterly results - revenues obliterated the consensus estimate ($3.13 bil vs. $2.24 bil) and EPS came in at a loss of .25, but expectations were for a much deeper .45 loss - LYV jumped more than 15% on Friday, clearing its downtrend line and setting up for a further advance. Seasonality gave us at least a clue that this might happen:...keep reading

I'm always nervous when the stock market advances for 2-3 weeks and into options-expiration week. It leaves market makers the opportunity to manipulate prices lower to eliminate a big portion of in-the-money call premium. Block, Inc. (SQ) is a perfect example of a stock that's been on an absolute roll, jumping from 59 to 75 over the past three weeks to test a major resistance level. SQ hasn't been able to close above 75.25, even though January 2023 represents the third month in the past five that SQ has reached this level. Will the third time be a charm?...keep reading

I'll admit I don't use 75-year charts very often, but that's how far you have to go back to find a bullish uptrend line test for Boeing, Inc. (BA). I've written a couple times about BA recently, believing the worst is behind the stock and that it could see a very strong 2023. When you look at this really long-term chart for BA below, I think you'll see why its recent lows should be very strong support:...keep reading

Last week, we saw Snap, Inc. (SNAP) rise to its highest level in two months, just before it released its awful Q2 earnings report. While the short-term strength was nice, SNAP remained very close to its 52-week relative low as Wall Street simply wasn't buying. After last week's dismal report, we now know why....keep reading

Has broken out again recently, but that long-term negative divergence and suspicious volume have me waiting for a more significant selloff before considering entry....keep reading

One of the most popular features of our service is our Monthly Max Pain report and related research. It's become so popular, in fact, that we launched a separate service for it this past weekend. If you didn't see it or haven't signed up, you might want to consider it as it's extremely affordable. We have two stocks on our February list that have over $1 billion of net in-the-money call premium after the huge runup in prices that we saw during January and into early February. That is a TON of money sitting on the table for market makers. One of those two stocks is Meta Platforms (META) and it's already dropping to wipe out February monthly call options:...keep reading

Listen, it's hard sometimes to WAIT to buy a stock. Maybe it's a stock that recently reported great quarterly results. Or perhaps a friend has given you a tip and money is burning a hole in your pocket. Everyone must do what's comfortable, but in my experience, impulsive buys almost never work out. There needs to be a plan and the plan needs to be followed. One way to plan is to follow simple scans that yields results likely to lead to trading gains - or at least will help, hopefully, with minimizing losses....keep reading

Revised annotated chart will be done this evening (failed to change it last night). 1st entry will now be recent breakout level at 68.99 with 2nd entry at 64.60....keep reading

In the event you haven't heard, I called the bottom in the S&P 500 last week. I said earlier in the week that I'd select last week's low as my "bottom". That was 3636.87. Will that be the ultimate bottom? Well, I don't know for sure, but I'm seeing money rotate the way it does at bottoms - back towards more growth-oriented and aggressive areas of the market. It's certainly no guarantee, but as I explain often, it's about managing risk....keep reading