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Earnings Season Continues to Provide Opportunity and the US Stocks Watchlist – 3 May 2022

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Tuesday was a heavy day for earning results with 118 before the open and a further 280 after the close (Data from Earnings Whispers).

Of note from the previous days earnings was CC (Chemours) – which gapped up at the open and then traded steadily higher throughout the day to make a new Stage 2 breakout attempt.

EXPE (Expedia) also reported on Monday after the close but reacted poorly to its results and then fell heavily through its Stage 3 range during the day to make a Stage 4 breakdown attempt.

LYFT reported earnings this evening and reacted badly collapsing further into Stage 4, and has now wiped out the entire previous Stage 2 advance and more.

US Stocks Watchlist – 3 May 2022

There were 26 stocks for the US stocks watchlist today.

CC, MOS, VAL, ZIM + 22 more...

Market Breadth: IBD Industry Groups Bell Curve – Bullish %

The majority of the 200 IBD Industry groups remain in the lower zone in Stage 4 currently with the Average Distribution at 32.05%.

The bell curve is a contrarian indicator, and so when the bell curve is heavily weighted in the lower zone, it is a good time for investors to begin to monitor stocks and groups from that zone that are starting to build Stage 1 bases and show relative strength versus the market. So that you are ready in the months ahead, once they start to reach potential entry zones in late Stage 1 and early Stage 2.

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Disclaimer: For educational purpose only. Not investment advice. Seek professional advice from a financial advisor before making any investing decisions.