Bounce in a Stage 4 Decline or a Change of Character?
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The market rallied for third day with further improvements in the short term market breadth indicators that we follow, such as the Bullish Percent Index, which reversed to a column of Xs on both the NYSE and Nasdaq Composite charts, with a status change to Bull Alert on the Nasdaq Composite chart and Bear Correction on the NYSE.
However, the major indexes such as the Nasdaq 100 are moving into areas of potential resistance where the bulk of the trades during the recent base structure have taken place. So those areas of liquidity need to be overcome to see a change of character over the current downtrending / range bound environment that we've been in since the market topped in November.
US Stocks Watchlist - 17 March 2022
There were 30 stocks for the US stocks watchlist today. Here's a small sample from the list:
TSLA, MOS, DE, CIVI, + 26 more...
Disclaimer: For educational purpose only. Not investment advice. Seek professional advice from a financial advisor before making any investing decisions.