With the VIX knocking on the door of the 200 day MA once more and the S&P 500 consolidating near the top of its recent range in a cup and handle pattern. This week could see some rotation once more if the S&P 500 can breakout.
The position of the S&P 500 is evident in the watchlist stocks this weekend, as there are numerous stocks forming similar cup and handle type patterns from sectors like consumer discretionary, communication services and financials. So we could see some new breakouts from some of the lagging areas of the market. Which may mean that the tech and healthcare stocks take a break as many are quite extended from bases, as they've been leading. But they may just keep running regardless. As always follow the price action.
Here's the watchlist from the weekend scans - BILL, CAG, CHTR, CVET, CWH, DB, DPZ, ENV, ETFC, FND, HUYA, LAZY, LIN, LULU, MMC, MNST, MS, NDAQ, NEE, NYT, PING, PRPL, SMG, SNE, TROW, YETI