Hi traders,
Welcome to another report.
I’ve made a change in the focus list section and have gone back to my 1 day, 65 minute and 5 minute layout for each ticker. Trust you all will appreciate that.
Let’s get into it.
Remember to check out my educational page, SHREDu, for educational posts. These will remain free and will continue to grow.
Link below:
SHREDu
I’ve also started to post the catalogue of HVC variations I play.
Link below:
SPY QQQ IWO REVIEW
SPY
SPY is still digesting its rather large move here. With its KMAs catching up let’s see which way it decides to break.
Mega caps have been dominating while breadth in general has been deteriorating. This leaves me a tad cautious into this week but I’m ready to change my mind in an instant.
Biotech and the larger liquid leaders have been showing strength.
QQQ
QQQ is lagging a bit more than SPY here. This consolidation and pullback is very welcomed after the larger move.
IWO
IWO closed the gap after its enormous move. Waiting to see this resumed higher and take out the overhead AVWAP.
BREADTH REVIEW
% OF STOCKS ABOVE 20 DAY
Breadth continues to deteriorate within this constructive pullback. All of this is welcomed so far.
% OF STOCKS ABOVE 50 DAY
Much of the same here. Let’s see how far we pull back.
SCREENERS (FULL RESULTS IN PAID MEMBER SECTION):
✳️SHRED Relative Strength Scan (Sorted by RS over last 5 days)
GKOS GWRE INTA MOD—-(see the full screener results in the paid section)
✳️SHRED Medium Term Power Scan (Sorted by RS over last 20 days)
RYZB UP IVVD ARDX DSKE —- (see the full screener results in the paid section)
STANDOUTS FROM THE SCREENERS (NOT NECESSARILY SETUPS)
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