The major indexes, i.e. the S&P 500, Nasdaq, Russell 2000 etc, all continued to pullback today with a weak failed attempt to regain the 21 day EMA and then poor close near the bottom of the daily candle. So all had a second daily close below the 21 day EMA and the short-term market breadth indicators, such as the S&P 500 percentage of stocks above their 20 day EMA (which can be seen in the top chart), continued lower also and closed at 38.60%.
The fertiliser stocks have been appearing in the watchlist again recently as they started to turn back up the right side of potential bases, with some cup type patterns in a few. This was one of the leading sub-groups early in the year and might be coming back into focus again.
US Stocks Watchlist – 23 August 2022
There were 23 stocks for the US stocks watchlist today
PYCR, LAC, SWAV, XOM + 19 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.