Stage Analysis Video Training Course

Stock Market Update and US Stocks Watchlist – 5 July 2022

The full post is available to view by premium members only. For immediate access:

A mixed day in the stock market with the NYSE stocks down while the Nasdaq stocks were up. So rotation was the theme with money flowing out of the stronger RS areas, such as the Coal stocks, with the group chart now approaching its 200 day MA and moving into Stage 3. While more beaten up areas of the market had a stronger day, with the Nasdaq 100 closing up +1.71%, and as you can see on the intraday QQQ ETF chart above. The base structure is continuing to develop, with a potential higher low attempting to form. But the overall weekly Stage remains in a Stage 4 decline, so it could still just be another redistribution base structure, as we are in a downtrend. So we could just be treading water until earnings season gets under way next week.

CELH – Stage 2 breakout attempt

CELH with a Stage 2 breakout attempt today on strong relative volume & RS vs the S&P 500 at new highs. It's been highlighted in the Stage Analysis watchlist six times since late March within the base structure – the last time was in the weekend watchlist. But, it has still got some resistance above to work through and is by no means is a confirmed move into Stage 2 yet. But, volume on the daily breakout today was strong at more than 2x the daily average. 3x plus is better, but in this Stage 4 market environment, it is a potential early leading stock.

Note the difference in the length & depth of the Stage 4 decline on the weekly chart compared to many stocks which have retraced their entire prior Stage 2 advances. It doesn't mean it can't still fail and form an upthrust. But this is the type of pattern that we what we are looking currently, which is a relatively shallow Stage 4 decline that didn't retrace all of the prior Stage 2 advance, and stocks that don't have strong overhead resistance zones.

US Stocks Watchlist – 5 July 2022

There were 14 stocks for the US stocks watchlist today

BRZE, CAL, LW + 11 more...

Become a Stage Analysis Member: 

To see more like this and other premium content, such as the regular US Stocks watchlist, detailed videos and intraday posts, become a Stage Analysis member.

Join Today

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

Recent Articles

SPX D 16 8 22

Stock Market Update and US Stocks Watchlist – 16 August 2022

With the S&P 500 testing the 200 day MA today and Dow Industrials closing above it, the IBD Industry Group Bullish Percent Index has moved above the 60% level, which is the level that I use to determine the Stage 2 zone. 60%+ is considered in the Stage 2 zone. So although the majority of the major market indexes are only in Stage 1, the Industry Group Bullish Percent breadth data is moving into a tentative Stage 2 zone position...
Read More
COCO W 15 8 22

US Stocks Watchlist – 15 August 2022

Stage 2 Breakout Attempt – COCO was highlighted multiple times in the watchlist since May as it developed a Stage 1 base and moved into late Stage 1B. The last time I highlighted it was on the 25th July at $12 ,as it tightened up near the top of the range and held above the short-term moving averages.
Read More
AMAT D 12 8 22

US Stocks Watchlist – 14 August 2022

Semiconductors was the dominant theme in the weekend scans, with multiple stocks in the group recovering strongly from weakness caused by the NVDA pre-earnings release early in the week. I did an in-focus on the Semiconductors group in the US Stocks Industry Groups Relative Strength Rankings post on Friday evening, including some market breadth data on the group. So take a look at that if you haven't already.
Read More