Stock Market Update and US Stocks Watchlist – 19 July 2022

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The S&P 500, Nasdaq and Russell 2000 Small Caps all managed to close above their 50 day moving averages for the first time in many months. However, they are all still in the range of the recent minor swing highs and testing their +1x ATR levels, and so could easily flip back below their 50 day MAs again if follow through action fails to materialise in the coming days. 

However, the short-term breadth showed improvement today, with a strong expansion of stocks above their 20 day EMAs, which has taken the S&P 500 percentage of stocks above their 20 day EMAs up to 77.80%, and 37.7% of stocks in the larger S&P 1500 are now above their +1x ATR level compared to only 3.2% below their -1x ATR level. 

US Stocks Watchlist – 19 July 2022

There were 9 stocks for the US stocks watchlist today

SLP (Stage 2 breakout attempt), BLTE, ACRS + 6 more

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