Nasdaq Bounces Back Towards its 200 MA and the US Stocks Watchlist – 4 April 2022
The full post is available to view by members only. For immediate access:
The laggard groups were in control again today with strong moves in the majority of the weak RS groups lead by the Communication Services, Consumer Discretionary and Technology sectors, which helped the Nasdaq Indexes to move back towards the top of the range.
The strong RS groups pulled back today, but a lot of the pullback moves were fairly constructive, but there was one of the strong RS groups that saw some nasty selling, which was the Marine Transportation group with some leading stocks from the group seeing some distribution and reversal down significant bars. So it is an area to watch closely to see how they react at short term MAs and other levels of interest, as we could be seeing more of the termites that Stan Weinstein talked about in the excellent weekend interview on Twitter spaces. If you haven't heard it yet, then I highly recommend talking the time to listen. You can find the links to the recordings in the following post: Stan Weinstein Interview on Twitter Spaces - 2 April 2022 (2hrs 28mins)
US Stocks Watchlist - 4 April 2022
There were 43 stocks for the US stocks watchlist today.
CLF, COIN, PERI, NVDA + 39 more...
Disclaimer: For educational purpose only. Not investment advice. Seek professional advice from a financial advisor before making any investing decisions.