123 Weekly stock market recap and Best stock market chart patterns August 30, 2024

hello welcome to uh mbx Capital channel uh if this is your first time here what we're going to do is we're going to do a recap of uh the market uh stock market ending uh week of August 30th so uh just the week before uh September and uh of course we have Labor Day uh Monday will be a us holiday as well so so there's no Market open um so yeah and then we're going to dive into some of the uh top stocks that I'm following and and you can see how they're acting whether um the market has more momentum um so let's dive into the this week um this is the weekly chart of NASDAQ and you can see NASDAQ is holding the red line right here uh so you know so we have this four weeks down um you know since mid July and then you know and then we have a bounce from August 5th that was the one down day from the uh you know the overnight scaring in the Yen carry trade and and then we bouncing right and then this week we kind of pull back a little bit and let's jump to the daily chart and so last week we will actually uh close off right here on this blue day um and it was uh it was good close like cuz we were able to try to recover from Thursday's loss uh it was a big day right here and then but then Monday come comes uh we start to dive like a little bit and then Tuesday we bounc a little bit and then Wednesday was a really hard day just cuz um you know uh it gave up you know more and it dropped below the red line which is the 50-day moving average and then Thursday um you can see NASDAQ um um close uh near the bottom like the pink line is the 21 Day moving average which for nasda is usually a big deal like um you know in terms of support level so so it closed near that level again and then Friday we finally uh you know lots of Tu and War and uh we were able to close again above the red line so in that sense is good news let's jump to the 5 minute interval so you can see here like you know uh you know this since Wednesday you know we have a big dive here and then Thursday um we bounced in the morning but then we gave back so again that was U not a good sign so we have Wednesday and Thursday testing the 21-day moving average at the bottom and then on Friday you can see he wants to test it again and uh but this time it was able to bounce pretty strong all the way back and so far like I said we we've been testing this level quite a bit and so and and we were able to close strong you know on Friday which is a good sign uh but ultimately we need to kind of cross this level at the top here so that we we can you know uh move back into rally mode so you can see if you draw a trend line right here you can see clearly where where this level needs to be so we have to come back right here um and goes towards 18,000 level and then retest that 18,000 level and then uh that will give it another leg up and then finally we will go back to the top here so that's kind of what I'm hoping for of course uh September is coming and generally is a very volatile month and also considered one of the worst months in the year historically so um you know just be cautious about you know uh not being too aggressive I would say because you're going to get a lot of choppiness and volatility and so uh if you're trading you know like me having tight stops there's probably a high chance you'll get shaken out um and quite a bit right so anyhow something to pay attention to of course this is like say the best scenario if it does Rebound from here and and we have this pull back for many days now right like you know starting on last last Thursday uh so it's been seven sessions in a sense if you count from there uh for this pullback and which is you know you know we have come from the bottom bounce quite a bit so that's why you know having this you know consider it pulled back s days and only gave up you know not too much um in general right compared to this height you know you see this level uh compared to here that's a really good sign in my opinion so the other thing that's probably um that I want to focus on today is just the setups right like how many stocks are setting ups and also like how many stocks is already taken off and for those that are taken off how many of them are actually like setting up to like uh from a pullback and and bouncing up right so we're going to focus on that uh when we get to more analyzing more stocks in the second half of this video um but in general you can see there's this like kind of nice cup pattern here uh on the index and and generally the the the the handle here uh you know a low entry point would be like let's say a bounce above the trend line uh traditional buy point would be like at at more lateral uh at this peak right here so uh so those are the two two entry points you can see here like of course this is at the index level but if your stock that you're following are following this pattern then that's kind of what we try to look for you know and generally most stocks that have broken out should already have um you know like which won't it won't be with this same pattern but at least they probably like break out from base and already uh run already and and those will pull back to you know same thing kind similar to the moving average there uh either 10 day or 21 day and then they'll bounce from there right so that's kind of similar um uh patterns you're looking for there so we're going to try to analyze stocks that way today just because there's so many of them like following this pattern um so let's let's come back to the market in general what happened this week um so so let's go back to the doubts uh S&P right S&P um so S&P you know we have a good closing on Friday I think we did make a new closing High um so that's a very good news uh maybe not all not not this high right here this is 5669 u i mean it's a closing high like but intraday High probably not um so yeah 5651 so yeah I mean this is uh really good news you know so uh see maybe not closing at 5669 was the closing high so so we're very close we like 18 points away uh literally Tuesday it could open and GAP up above that line right like we don't know what will happen but but you know similar here you know we have tested the market like quite a bit uh on many days now so again we have this chop up up uh run here rally and so now we're hoping for this rally to continue maybe the slope won't be as as as strong as here but even this slope or 45 or 40° angle um you know will be strong will be good for the rally then um so yeah so again come back to weekly chart again you can see now we have this up uptrend right now looks pretty good and the 50-day is trending upward so so S&P in general is definitely leading um I mean d is also doing really well cuz they hit alltime High um but let's just jump to RSP the equal weight RSP just because this represent you know 500 stocks um and equal weighted uh is is good thing because um uh it's showing strength right because you can see this this this trend line like this 10day uh green line right here that's the 10day moving average look look at how well it's trading along that line This is a 45° angle line like that's amazing stck right and on Friday you can see the bounce right here uh so so we have this kind of sideway action which is good so another thing that if you follow my videos you notice I always talk about the 10day moving average um because that that is where you know the strongest stocks will try to ride and they try not to either touch it or if they do touch it it bounce off it right away and so so the index is doing this you know this RSP equal weight S&P 500 Index is is doing this so that's amazing strength so so that's why I'm I'm more optimistic uh in that sense right because um this this there's 493 stocks besides the max 7 that is carrying this weight you know which is around roughly 70% of of the whole index so so if they're performing you know strong that's good sign right so the the the Fang ETF here which is the max 7 um like this is definitely underperforming you know it's building a cup with handle pattern as well um but you can see you know it has dropped a lot more right um in terms of of of depth here on the handle so so there there so that that's why you know having RSP like hitting new highs and and and doing really well is a good sign for the general BR B market instead of just that seven stock that leading the market right so so we different we'll dive into the seven Max seven stocks in a moment here closer to the SE middle middle of this video um but I just want to bring this up because that's what's happening you know they have been leading uh you know this run right here very strong and then we also have the January to April run right here so you know they have done two runs now um and then we had this pullback and then we have this deeper pullback and right now it's definitely you can see the relative strength right has been you know not only going down here during the correction but even recently right it's it's going down relative to the S&P in general so that is also telling you that Mex 7 is underperforming um I know like then now's analyst mention like uh meta and apple are are the only ones who got their revenue higher than their their forecast so those are the two that he really likes a lot but the rest you know uh seems to uh not not as strong as they they should be um you know so anyhow um so not saying all all all the Mex 7s are not going to perform uh even Tomley also mentioned that Mex 7 may not uh outperform in the second half just because they already run so much this is a strong run um so they might just kind of you know not go up as much in the second half you know they're not saying they'll go down and just saying they're not going to outperform uh other other areas so so something that I just want to bring you know we we go into September we have four months left in the year so that's something to consider um if you are heavily you know uh in just those Max 7 stocks but definitely right now RSP showing broad strength and you can see Dow here on the daily chart uh is the only one that's like you know S&P is were close like I said 18 points but Dow has already Mak new high on on closing high on Friday uh you can go to weekly chart as well like really strong chart um you can see it clearly broke above the high here on the week um so this is also very strong momentum so so uh so yeah like I know Intel did well on Friday um which is component of Dow I believe um you know Al of course this is uh been beaten up quite a bit but you know but it was a strong bounce on Friday I can't remember the news but there was something so Russell um you know it's not near High uh but but we also have come from the low this is also a very sharp uh slope here on this uptrend so that's good sign cuz it was it went down pretty fast I think it was like three days um so we can go look at the daily chart yeah here you go this three days was really hurtful uh to this index but since then again this slope is very strong and then if you look at the 10day is also very strong um and you can see um you know it did pull back like I say from uh Monday right Tuesday Wednesday again so those three days was also hurting um my portfolio definitely took some beating those three days um um and then Thursday we we did test the lows here once and test the lows again here another time so so you know this basically Monday to Wednesday was down days for most index and then Thursday and Friday was a was a test of that low and so far you know it has passed that test and now we just need to you know just like uh uh Dow uh we just need to make a new High um closing High here um at least for the recent recent uh High and and that will you know kind of bring the uptrend back into momentum and same same with stocks right like you know if you're looking at your stocks they they probably some of them might have pulled back early this week and then they bounc Thursday Friday and then again same thing watch watch how how it's acting is it hitting new highs now um because those are your stronger ones right so anyhow so that's why we're looking for momentum right now so I forgot to mention the equal weight uh nasda 100 so this one also building a cut with handle most to them of building that pattern and you can see it it also pull back and and then bounce on Thursday and Friday so again we're looking for the same similar pattern here this will break out right here uh so so that will be also a good sign and then we're going to jump to midap um so map similar pattern three days down two days up um so we're looking for this bounce above so again all of them are having this nice Cut handle pattern and the handle are usually formed in the top half of the pattern so this is also a good sign um yeah so so far everything uh seems to be normal in terms of the General market and um in terms of behavior and stuff so um obviously we have lots of things coming out unemployment report on Friday and then uh I believe um uh two weeks later we'll have the the FED meeting right so so but the unemployment report will be very important in in figuring out whether the FED will cut uh .25 or 0.5 if a weekly unemployment report and what does that mean to the General market maybe it's not a good thing because you know then it might go down faster in terms of the economy and Market might be scared of you know a hard recession again and so forth so you know things to consider uh so that's why September can be very volatile because of all these things that could happen so just uh be mindful of that I just want to talk about like uh some stocks have fallen pretty hard this week like I so so on Wednesday we have MB um so here you go I think that some of their FA to travel something can go as well this is a big gap down right here so you know um so that's not a good sign uh for this one and then next one's ANF after come being f um so there's a gap down here it's trying to come back a little bit so so we'll see um then we have PDD that was also a terrible gap down here uh and then follow through so not good sign um then we have Berenstein um also reported also very bad fall through here so not not a good sign um so anyhow so I mentioned those few stock that have fallen um generally I don't like seeing like you know growth stocks that are falling hot on Earth earnings like one or two is probably fine but if you start seeing so many of them signning for on hard earnings you know that's a not a good sign for the General market because they fall such hard like you know why no one comes in and buy at this bottom that's what I'm more concerned about now we are at the end of the earning season so maybe this is not as big of a deal but uh you know but I just want to bring that up that those stocks that Fallen hard so uh on Thursday the one big news was um GD GP accelerated to 3% from 2.8% um that was a really you know good news uh again Bo by uh Stronger Than estimated consumer spending um and so the recession argument Len right so Thursday you know we have a rebound on that day so that was uh it this gave off some games at the end of the day but overall it still an update and then Friday we had the PC number came out uh as you can see uh actually yeah Rose .25% in line with views and then annually and then uh excluding Fu energy which is the core uh we have 2.6% annually so that also helped the market and that day Friday you know we have a really strong day uh in general all 11 sectors are n higher uh so that's good news and then we have volume row on the nyd um so if we jump to uh the IBD news paper for a second just looking at this chart here you can see the core PC is under 2% here uh oh sorry the general PC and then we have the core PC uh annually is at 2.6% so this you know slow starting to come down um you know more importantly we have the 3% Ann thre Monon annualized rate which at 1.7 now so that's a good news so it's under 2% so we look at the last 3 month data we actually are under 2% so again in inflation doesn't seem to be an issue no more uh the market you know was opening up strong on Friday uh obviously even before this news came out I think it was already pretty high and then it did go higher after the Market opens but then it kind of get back quite a bit but like like we saw earlier it did bounce back by the end of day which actually Clos pretty strong so that was uh good news so so um I'm going to share this screen with you uh this this is the IBD signal we are still in confirmed uptrend with 60 to 80% allocation um so what happened here so last Friday we did have a accumulation uh day or uh a follow two day what they call in IBD and basically up on 1% more on higher volume than previous day so so we have lots of uh fall through days but we also have distribution day the last Thursday that was the big down day last last Thursday and then this week we have two distribution days Wednesday and Thursday Thursday was more of a um mile distribution day so we have three on on NASDAQ and one on S&P um but you know yeah so stock didn't rally into close on Friday uh but in general when I look at the accumulation distribution so this is the number of stocks um so accumulated is 143 versus 74 so we did close Stronger by Friday still not a high number as you can see we have more stocks being accumulated here um and then industry groups uh you know 31 again we did end high on the week but also not not too high uh you know we have 40s here and 50s here then we look at the sectors you can see um uh technology did close higher at 25 again this is net accumulation minus distribution so on the technology side we have more 25 more stocks being accumulated uh and then retail is is down the whole week in general and then we have industrial uh at 16 Health at only two Commodities at six and financial at 23 again this is net so you know uh so basically we take the to the number of stocks being accumulated minus the ones distributed and um so yeah so the numbers are not that great but oh it is green um so there is some stocks working and so but it's not really big um you know but we have you know so yeah so like I wouldn't say this is a strong rally but maybe it will get better I don't know we'll see but it is it is now in the third week of the rally so so uh but again we're going into September uh August to September usually M I don't know I don't remember the time frame but you know but in general they they're more volatile so um this is an IBD newspaper we're just going to look at um so here's the S&P index so we are very near high right here and then here's the advanced decline line you can see it is now you know again making new highs right now so that's good sign right because we're making new highs it's very subtle probably hard for you guys to see but but I can see it here but um whereas the index hasn't make new high yet so that's also another good sign um so this is good news and then you can see the volume is much higher on NYC and then NASDAQ uh you know we kind of building this longer handle and again the the advance decline line hasn't make a new high here so in general like the advance decline line for Nasdaq has been weaker than S&P so yeah I wouldn't look for Nasdaq stocks to lead in general but you know they will part participate in this rally as we saw there was some being accumulated earlier so um but in general the S&P 500 stocks uh are doing much better right so so that's that so this the next week um Tuesday is a holiday and Monday is a holiday so we'll have four days of trading and then we have the big Peril data coming on Friday for AUST and and then we have U and then the following week we'll have September 11th the CPI and then and then obviously we have uh fat meeting on September 4 so um and then earnings wise we we don't have much uh as we winding down we have AO dks and iot and cl wire I'm just going to quickly spend a minute go through all the ETFs for the spider sectors so xlk here you can see it's building a handles very similar to to a NASDAQ chart so this is the communication sector you can see uh after Friday's bounce like it's much closer to the high so this looks better than the xlk and then this is xrt so this one is also building a handle trying to find support in the 50 days so it's near the middle range of the base and then discretion consumer discretionary this one has a nice bounce on Friday so this is closer to the top of this handle Consumer Staples pull back this week to the the 10day moving average the green line and then it bounce off that so it looks like it's still staying strong Industrials uh again follow very similar to the Dow Jones Industrial making new highs very strong right now material sector also breaking out of this long base here so another area that's doing really well utilities continue to make new high and uh this is also doing really well obviously uh we continue to hear stories of energy demand from AI area uh continue to make this sector go higher so that's a surprisingly strong healthc care also making new highs also in another area that is I think probably underrated uh because I I I do have lots of you know Health sectors especially biotech stocks in my top 100 list energy probably the the one that is the weakest right now just doing nothing really financials are coming up really strong you can see this pattern um yeah it's incredibly strong um a lot of small cap stocks doing well as well in that area and real estate uh again in our defensive area also bouncing off this week so you know we continue to see defensive sectors doing well uh that to Staples utilities real estate and even Health which is very interesting so um looking at the semiconductor ETF here very similar chart to NASDAQ the only thing I don't like about this chart is is how the handle is formed below the 50-day generally i' like to see it higher than the 50-day um or at least you know I mean it is near that area so but uh we'll see um uh it's nothing not too bad is still kind of in the middle section so it's okay um but it is not as strong as some other grps but sometimes this can bounce if if if there's a clear sign or signal it might bounce faster so that so look out for that so uh so even though it's underperforming right now it could still uh go faster later you can see the relative strength is weaker if you jump to like uh obviously Nvidia has been um you know the earnings news uh didn't go as I mean I'm not sure why the S there's lots of reasons probably just in general too much hype and um even though a lot of the numbers were good but they just you know maybe investors just want to sell in the news they're just not you know they want even bigger blowout results um but it did kind of close near the 50-day and the 50-day is a very important line for any institution Stu if you follow IBD that's one of the things they really uh follow is the the 50-day moving average um so you know even Jim roel he he he kind of look at the 50-day line as a very important line for holding longer term uh so um yeah so like you know as long as this doesn't deteriorate from here and and then you know stay uh you know more than one week down or two weeks down below the 50-day that that'll be a bad signal um but yeah let's see how this turns out but in media is definitely underperforming right now let's look at some other guys like TSM uh which is also also near near my top list uh somewhere um this one the handle is more along the line of the 50-day um so this one looks slightly better um and then we have arm uh this one you know it corrected a lot right so so the the general base is where weak and this this like consolidation or you know generally it would be a handle area but because it's so low in the base that it doesn't look like a handle right cuz generally the cup would look like this and then you have this handle but this is so much lower so that's the only problem with this pattern um AMD again similar right Lots Big correction here bounce but the bounce was much weaker and then look at this handle it's much lower than this it's more in the lower half of this base so another also another B sign right so uh so those are um you know know some we know aago is reporting this week uh so so this one also um yeah it's like along the line of the 50 day so that's where so I think you know AO will probably impact the the chip area as well so we'll see how the reporting goes in general you can see the software group ETF here shows this nice cup with handle pattern right and not only that the the handle is much near the top of this base uh and and so it's much nicer and and also this is a much larger consolidation go to weekly chart for a second you see this is a really long consolidation now so you know right here we have something similar even shorter cons it's still long I mean this is like 23 months of consolidation here and then we have a nice run right so here same thing right we're going to have this base and then we're going to if we do break out we're going to have a nice run usually so uh let's hope for that um let's come back to daily chart we're going to look at now let's start with Microsoft here some of the mega C names again I don't like how the mech 7 a lot of them are trading at the bottom half of the base um this is not a good sign I don't like it at all uh Google similarly see all all this like basically the bounce here was so weak it couldn't come back to the halfway point and then the handle is like forming near the bottom of the base so these are all very negative signs you know from a technical standpoint um so yeah so that's that and then we have uh so MAA um generally has been doing better uh so you can see this one the base right here also this is Al longer consolidation but anyhow this the the uh handle is much closer to the top of so that's good sign and then we have Amazon so this one you know it has a nice bounce I I don't know if there was news on Friday um but uh but you know this one is still below the 50 day so that's the again in general I don't like see handle form below the 50-day or halfway point of the base so that's not a good sign in general um but inhale and then we're going to look at um Apple so lots of news on Apple they want to invest in open AI um you know stuff like that on Friday I believe that was announced and uh and you know this chart pattern is is quite uh Progressive right in terms of um different than other mag cap first of all and also you know you have this nice long base broke out then it falls back to basically the buy point right here and you know uh and then tested that and then they bounced back so hard and this you know this very similar to MAA it's trading you know near the top of the the base here and so uh obviously we know um and I think they even revised the production level for you know the phones coming up so they're expecting a strong growth like more sales here um so so maybe you know so that's also good news um yeah and look at this a three-week typ pattern the Blu blue is the light blue colors denote threee pipe pattern uh which is also a strong sign of accumulation um you know volume wasn't that strong in general uh on this bounce but here here's the base so you know depending how you want to look at it like I mean this is a little uh upward like wedge here so it's not really quite a handle um it it did fall on on Thursday reversal so maybe it'll form a handle here somehow right so so look out for that so that's a channel line there if it breaks out probably a good sign so that's Apple uh let's look at Tesla so Tesla you can see it's under the 50 days as well so not uh again generally I don't like to see the handle below the 50-day um so we'll see um but the channel lines look like this um you know it's okay I mean it's not the strongest pattern but uh let's see how this also evolve here so we're in the second half of this video um so I want to show you this this diagram here this is what how I usually you know um trade uh based on certain patterns right and generally what happens is during correction um you know you're going to have this pullback down here and recently we did have that pullback and then it's start to bounce and and we did have that bounce recently as well and then and then it start to go sideway or form a handle that goes slightly down and so this is the handle right here then we kind of bounce back and we we're going to try to break Above This handle Point here this lateral handle point and then that's usually you know consider a traditional buy point and usually that's also above uh in the second half of this Bas right here so in the top half of this space then we breaks out and then we go higher and then we're going to start to pull back again right so stocks doesn't go straight up even in a rally they they're going to pull back and generally what you want to see is uh you know a higher low and then it will pull back and then it'll bounce again and make higher highs and then higher lows and then same thing it'll do a second pull back right here you know and then do do that same thing and each time uh you you want it to bounce right and where it bounce is also where component so generally the green line right here I drew is like usually I follow the 10day again some stocks are the stronger ones will tend to ride the 10 day um the weaker ones you know some stronger ones you know that's more higher beta they might also ride the 21 Day uh just because they they move so fast and so forth so they might fall back further to the turn one day um and but in general I like the ones that are following the 10day so sometimes they will touch the 10day some sometimes it won't touch the 10day like right here right here it may touch it sometime go below it a little bit and then bounce back so and then finally you know at the end of a rally we could see uh a you know many few updates that are very strong and the stock could run really high um you know that's usually what we call a climax run uh it could be it could rain it could run for two three four five days and sometime it could be just a one day up like Gap about like 20% or something you know really high like 10 20% on that one day that's also a climax run near the top like basically it's already broken out it's already near the 20% profit Zone and and then it just have that one two three day run that really just take off and then and then usually you will see it's far away from the 10day um moving average as well so those are times when you should probably start thinking of sale um so yeah um for me I've learned that over my career like it's much sometime where you buy is not as important as where you sell um because at the end of the day if you don't know how to take a profit then even if you do make the gains you're going to give it a lot of it back and so that's not a good thing because the chances of you even making profit in the first place is not as high as one would think and so we have to learn to take profit and we need to learn how to sell so so that's the general um diagram here and so when we look at my top 100 list and going to highlight some of the charts we're going to look at this pattern and see if it follow this pattern and and learn from it right and more importantly I'm going to highlight uh every time it pulls back and you know where's a good entry point on that pullback or or even the breakout like where is that good entry point you know and how do you tell and when it bounc like when do you want to get in you know uh we don't usually we try not to buy on the pull back because you don't know how far it go um so that's the only tricky unless it's near the 10 day you might take a risk and say hey either it'll bounce within 10 day or I'm going willing to take my you know 3 to 5% stop loss or something right you can put a stop loss there but anyhow that's that's up to you um but yeah I just want to highlight this all right this spreadsheet here is where I kind of have my top 100 lists here um rank based on price performance since uh July 24 um later on we'll also go into something more recent like a week old uh just to show what kind of stocks have been performing more better in the last week um but in general like this has been slightly now more than a month and these are the gains here H row 84% biotech area up start 78% Financial Consumer loans area Cel financial service area 76% uh lway food da product 76% ax GN Medical Products cdna Medical Products smtc this is in semiconductor fatless so this stock um report earnings this week and have a nice uh run here um right here we we have this pretty deep base right uh this is the weekly chart we had a nice run here and then we fell on this earnings not this recent one but the one before and then and then it kind of came back up fell came and went back down then now it came back up so this Hing news was good uh for them and it bounced right here and and then it contined to fall through uh Thursday and Friday as well so it looks very good so this is still in the base um uh so it hasn't you know um I mean the early entry point is probably like somewhere around here right um You can think of this as a double bottom base um so yeah so it's it's still but the M there's a higher entry point right here right now it is little bit you know so here's the 10day slope right here so so we'll watch as as you know again it's going to probably at some point going to pull back and when it pulls back to the 10 day we watch for that bounce right so we we haven't seen that yet so we're still waiting for that so um this is clear secure while U symbol security stock um yeah so many of the stocks in in the top list this this time around came up from a base on so this one did come out from this base right here and then it came out on like strong earnings right so huge gap up and then it follow through uh and you can see the 10day slope like Rising really fast and as it rise you know right here you can see this black I draw so this is the first pullback okay and and then it bounce from there and then probably like you know depending how aggressive you are generally I would either Buy on the next day that if it continue to make higher highs um or the second day from there uh it's up to you right um I don't usually buy on the first day of Bounce especially when it was um uh still a red day um so so that's that and then comes here we see another test right here another black line I draw right here it's probably hard for you to see but here here's another black line right there um this was a very um this was on Tuesday we go to go to uh let's say 10 minute interal we see Tuesday so here you go this is the the drop at the early in the day and that was the test it it dropped below this it test that low and then it bounced back so that was a uh you know upside reversal and that's usually what I'm looking for inaday is that upside reversal test the lows uh and then a nice bounce breaking new highs um uh recent High here and then we continue on the uptrend right the momentum so so that's what I'm looking for and and so you see uh again we we fall to after that well it pulls back the next day but you can see that was an inside day so it's more neutral in that sense and then the the day follow on Thursday and Friday it continue to make new high so so you can see my green marks are where I have been adding positions and the red mark red lines are where I'm generally raising my stops to each level so then we have Iowa 57% gain biotech group temp medical research group adma biotech group so you can see again we still have lots of biotechs in the top 10 here um yeah and then we have adma another biotech aspn chemical specialty vcyt medical research group Umba so this is another fabulous do so we have this base forming here and then we have this Gap up earnings on Wednesday and it's holding really tight Thursday and Friday so again as the 10day comes up uh it looks like it wants to whole and you know so far it hasn't come back to the 10 days so that's also good news and then the next one uh we want to look at is Inta in app uh software Financial area so this one in terms of the base it is still in the big base here uh a lower entry line could be this trend line right here again this one um Gap out our earnings and then it follow through the next couple three days actually pretty strong then look at this pullback right here look at this little red such a small range right on this pullback it just doesn't want to come back to the 10day so here's the 10day slope and it just doesn't want to come back and then look at the next day bounce bounce uh like almost every day is blue here okay um so you know you can see here this is the green line right here this is the slope hasn't even come close to it once this is a very Incredible strength like I would say you know definitely one of the top strength right now and and we just near the breakout Zone and even during the breakout Zone look at the Thursday reversal nowhere near the 10day um a little bit of volume uh we expect that you know generally when we come back to the previous High we expect either a handle form like some sort of small handle something like that but this one like you know look at Friday it just goes back up again so the accumulation you can see from all the blue lines right here all above average volume much more than the selling volume here um very strength lots of strength in terms of technicals um and this is a incredible slope right now I mean you saw this stock run before um and so this has been ugly consolidation and now we're breaking through all the resistance right now breaking out um yeah look at this this three weeks of volume here humongous so I would say this is something to watch out for like definitely I put this uh in my top 10 raater next we have INSP in the medical products group then we have Kawa in the retail restaurants so let's jump to this chart this weekly chart we have this nice strong breakout on that big earnings news a week ago um it did fall back this week um it's giving back definitely um so let's look at the intraday chart how is it doing so you know since this Gap up last Friday um Monday it went up a little bit higher Tuesday it gap down but it closed you know uh more at the top range so I did take a position there Wednesday it was holding at that level so the 10 days is rising you see this is the green line now it did break the Thursday it did break it right it break the 10day so um like touches it I wouldn't say break it like it touches it and then Friday it tried to I think it make like a really tiny low let me just go to the intraday chart um so yeah I think it make a slightly low here right here yeah so so right here like a little lower low um so and then it bounce so which is a very strong bounce at the end of the day um so I like that and so I add another position there so let's you know I don't know if this is going to work out but this is the slow of the 10day so far it's been holding the 10day line General um and that's you know like this this day when it Gap up it was just too far away from the 10day again I never like to chase stocks too far away from the 10day that's something i' learn all time most of the time you will be punished because it will pull back towards the 10 day so this is a good example of that um so in general this is the the base here right and then it bounce out from the base break out and then it pull back so this is really the first pullback of the base so um so I'm just going to recap a little bit um you know so this is the base it's going to bounce out break out pull back and then go up higher pull back you know once a second time sometime third time or even fourth time and then finally it'll make that climax run so again this is assuming we have a really strong rally in the market and Market continue to build up and the stocks continue to build up and so this is uh potentially a first pull back go up more second pull back and then it could take off and for the climatic run right that's what we're hoping for that's the kind of patters I'm looking for um so yeah the next one is Shopify um this again this one we have a a a gap up right here from the strong earnings news uh it did break like a long-term downtrend so uh and then it fall to right here and it is writing the 10 day and then it finally pulled back and it did fall this one did fall below the 10day it tested the 21 Day here's the pink line so yeah so this one is definitely you know not as strong as some of them but uh it is holding right here I I the only thing I don't like about this chart so far is Thursday Friday bounce is much weaker than I hope for generally like some of the stocks that are bouncing back from Monday to Wednesday's loss are already near the the previous high or they're more even like they could be even higher so making new highs right now so so that's the only problem with this chart um but in general it's still acting pretty strong so we have crle Internet Network solution docks so with medical cstl medical service prct Medical Systems equipment and new Banks foreign so this one's uh doing well as well spy biotch kill fin financial service so here's a pretty good looking chart Q F technology uh here's the nice base again Gap up earnings right here break out once it broke out um I would say right here um let me just draw the black line right here around this area that would that is the first pullback it's a very short pullback it's a intraday one day pullback um and then it never and then it bounce off and close um pretty much near the high right here um uh and and and and then never touch the 10day so here's the 10day slope and then this is another one right here you can see see the black line that's two pullbacks again a one day pullback these are very strong like you don't see many stocks that do one day pull back and bounce back that is a Incredible strength uh especially if they can close and make a new high on that day um those are very strong stocks so this is a good example of that and then uh and then look at this two days of down days like it just went sideway it didn't even come near the 10 day right so look at that and then now it's bouncing again again on Friday close a new High um yeah very strong stock uh in general in terms of technical strength and then uh we also have apploading here in the software Enterprise so this one is forming based on base pattern it undercut the previous base right here so shake out a lot of investors and then now it's been bouncing back and this 10day slope is pretty good 45 degree angle um here's the first you know real pullback right here again black line right there uh and then Thursday found the Friday so this is a stronger so what I'm looking for is it pulls back and then it bounce right so and then once it bounc is it making new High pretty fast and look at this Thursday Friday it making new highs already so um that's a very strong bound so so yeah I've add up on both Thursday and Friday and this is near the traditional buy point right now um so um uh look at the weekly chart looks pretty pretty good it went all the way to 200 day on the pull back here which is considered more of a correction now this is a 34% correction um you know and now it has according to IBD you can see it say stage one it basically reset the base to stage one um based on um you know because they undercut this so because a lot of investors have been shaking out basically all these investors more recent more more newer investors now uh versus you know investors who've been in for a long time right so at least for the ones who are not long-term you know more short to medium term so anyhow so that's app bling looking really good um I think this one you know has been doing really well the last few years and and you can see the the reason why is the fundamentals are just pretty pretty good and now it's 30 billion uh market cap so yeah um I think I forgot to mention yeah so this problem is where when it's high like August 30th it means it hitting a new high that day um uh and then on this side you have uh the relative strength for daily and weekly so for this for today and then for the whole week right where it close and so so if it close especially at the end of the week now if we if we see you know it close high on the day and also high on the week that's a really good sign and they make new high that's even better so that's that's what always saw on both Qin and app anyhow I'm going to continue with this list we have coherent uh with uh equipment semiconductor f&t software security rxx Medical Products CBT software enterprise ntnx software Enterprise whco apparel clothing manufacturing NG internet content tgtx biotech vrna biotech KV y all software Enterprise a pay consumer service education four credit C card payment aspn computer software Enterprise so I mean on the weekly chart for aspn Asen technology it's pretty uh choppy for sure very volatile too but this is a really long consolidation um and then it finally came out and so let's look at the daily chart so here's the cup here's the the pattern the the B the handle this uh it's more of a wading P handle because it's like the lows are going up but ultimately it did have a a traditional buy point right here so first time it broke out it didn't last long enough and then it pulls back to the 10day so here's the 10day right here and then the second time it bounced above it uh the two buy point it actually worked and this time it worked so it came out look at the selling volume here like really low right the red color ones versus the blue ones are much higher so so that's also a good sign of accumulation so yeah so it is definitely extended now from the 10day so we'll look for like you know uh some sort of pullback here whether it's sideway or coming closer to 10day let's look at another stock uh BBW that reported this week as well on Thursday broke out right here on earnings again this is a lower entry point and then this is uh the traditional buy point and it fall to on Friday so I took a position right there we have exis biotech aclx biotech Groupon retail internet Tree bance Mortgage dual lingual computer software so that one also hitting new high relative strength krnt Machinery General industrial KSL Insurance uh FTI Investment Management let's take a look at this so this chart obviously show how well this stock has been doing like for a while now then we have this like more severe pullback and then more severe correction and then here's the bounce so we are all the like it's a really short base um yeah and then we have this bounce right here breakout right here and then it kind of follow through and then we have this two days of pull back look at how tight that trading and draw a black line there so that again that's the pull back to the low the low um you know see yeah it didn't touch the green line see that um and then it bounced off there right so so that's a strong sign and then it make open fall to again so so that's the yeah this chart is looking really strong the 10day slope looks like this 45° angle shock ninja um a lot of Traders following this IBD especially here's the breakout nice Gap out on earnings right here then it followed through and then it start to consolidate and pull back but look at where it's going it's going sideway but it did eventually the 10day you know because it pulled back so like it just consolid for so many days it's a very tight consolidation um and then it finally touched the 10 day I believe and then let me just take out the markups again so right here you can see it touched 10day many times actually two three four 5 days um and it didn't break it so um so that's good sign and then finally Thursday uh you see let me go to Inay obviously Friday close at new high but let's look at the inaday on Thursday so here's the intraday so here you go goes up pretty strong and then came back right halfway so so that's still consider a positive day and then Friday it again came came up pretty strong it pulls back pretty strong uh but still higher than the day low and then it it bounced off so this is also very strong so now um we we're going to write this 10day note which is again um look like this so that's uh yeah so this is like the first big p now there's not many energy or Commodities related stock but there is a few like this is one of them ypf this one is coming up really fast it is in the $20 range so that also makes it easier to jump 10% or 20% easily um so so here you know we're in this space right here this is tradition this is the low entry point on Thursday it kind of came out a little bit and then F Friday fall through on high volume you can see that let's look at intraday again so you know generally um I like to see stocks get test intraday before I buy into it uh especially the lows recent low but this one it just gaps up so then it pulls back and so then you know it bounced up again and then look at this it just couldn't come down the whole day like it couldn't like this is the low of the day you know considering forget about the Gap up right uh so that low it never test it once more and so that's a strong strength so so that would be a you know a possible entry point as well for that so if I put back my markups yeah so I another a position Thursday and Friday Dell uh reporting did well um one the hardware group cprx biotech penter software Enterprise SE internet content as Leisure products jxn also doing well Insurance uh flnc energy alternative order MRX Financial Service specialty card um internet content rocket Financial mortgage tuu as travel C cus uh semiconductor usap steel meley let's talk about Mele so this chart like again I think a lot of IBD Traders are following this stock as well um we have this earnings Gap up right here and then you have a very uh volatile day the following day but it was managed to close at the top range and then since that day it just kind of follow through and then it rise the 10 day right here and then um and then after this here it start to go sideway and then now so it did touch the 10 day recently and so now it it's coming out again so uh hopefully it will continue that way we have wh again this is another oil gas stock onto semiconductor lower Aerospace defense UHS medical hospitals um Dash internet chewy retail internet let's look at chwy oops so this stock obviously a little bit of a Wall Street bet stock uh but anyhow so here's the last uh crazy day there then it kind of did nothing for a while now it bounced back and then have this first pullback um so that could you can see the uh first trend line entry here and then it bounced on on this Gap up earnings and then what I like about this chart so far is look at Thursday and Friday now you know generally I like when the stock follow the market but in this case it didn't but even though it didn't follow the market the thing I like about this is how close how tight it is where it Clos um so it doesn't mean it will work but at least uh here's a 10day slope and again following the 10day magic line as long as it's not trying to come down hard it's a potential right so so just want to bring that up so we have axon in security txg Medical Products mvmi semiconductor C1 Financial Service specialty workday consumer software Enterprise HG Insurance em Banks forign so this one is coming up onon retail apparel shoes whey computer software medical this is also IPO um doing well sh Shack Shack retail efh Residential Building sum biotch AC C this is also doing well Home Care alation cyh uh medical hospitals tdd commercial service advertising power electrical power equipment Uber Leisure service box um computer software database sfm doing well in the retail cross St is starting to come back a little bit uh let's let's jump into that Stu now this stock obviously corrected big time uh generally I don't like to buy stocks that are have corrected a lot um unless they they have S to move above moving averages and it it did and this is the you can see the 21 Day the 10 day and so here's the pullback after this bounce and Thursday was a strong day because of the earnings um it it did close let's look at intraday so Friday it kind of closed near the range but it's still higher so let's let's look at this intraday so here's the bounce on the earnings very strong came down test came down test so it did kind of look a little bit weak cuz you know you can see it keep failing the lows right but overall it's still up quite a bit for the day and then on Friday you can see um again it keep making lows again like the lows get tested many times so again I don't like that and then Friday uh it did bounce back a little bit not a lot um so it wasn't closing at the top of the range so both days I would say it's a little bit underwhelming so so I may have J the gun a little bit here um and then the 50 days is the going to be the big test here if it does come up here this is going to be a big test because this is sloping down and it could be it could be just a temporary technical bounce and then go back down so I just want to bring this up uh that's all we have PSN consumer software Enterprise GM surprisingly GM is doing well uh n mm Transportation ship rmd Medical Products run energy solar FN electrical contract manufacturing G and this one also doing well energy alternative order ly Lely acva and NRG utility diversify so again the utility sector is pretty strong so this is a different spreadsheet um since August 23rd so just roughly one week ago uh in terms of performance but some of them are already on the previous list but I do want to highlight some of the ones that have um jump you know more this week at8 is a Leisure lodging stock Cooper is a medical products stock enlc in the oil and gas transport pipeline Viva in the computer sofware medical FG Insurance life all I computer software Enterprise apge biotech Gil in the clothing manufacturing thg Insurance kspi Finance credit card Sofi Finance Consumer loans Eland medical supplies arm we already look at that mcy insurance uh VRT electrical power here consumer product electronic and fixed building AC heating products So yeah thank you thank you for watching this video I hope uh you know uh looking at all the stocks kind of give you a sample of where the market um a lot of them are not your well-known names um so that also highlight you know potential um path for other stocks General stocks like you know mid caps small caps to continue to rise so watch out for that but I think most important is again uh we have Dow heating new highs we we want to CSN hit new high hopefully this coming week and and then other stocks to um iwm and NASA to continue to recover so that's the idea thank you for watching this video please like And subscribe thank you