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Chinese Stocks Proliferate in Stage 1 Bases and the US Stocks Watchlist – 25 August 2022

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Chinese stocks have surged back into focus today with gap up moves in numerous stocks within developing weekly Stage 1 base structures in the group, that have been forming in some stocks for as much as 8 months+, after huge Stage 4 declines through 2021 across the group. But a fiscal stimulus announcement by the Chinese government has caused a spike in interest today in this heavily beaten down area of the stock market, and has put many stocks within reach of potential Stage 2 breakout attempts. 

Hence a lot of Chinese stocks are making an appearance in the watchlist today, as with so many developing in Stage 1, it's time to start tracking them, so that we are ready to act if they move into the Wyckoff method or Stage Analysis method ideal entry zones. Which are in Phases C, D and E in the Wyckoff method, and the Stage 2 breakout point and on a successful backup/pullback towards the breakout level in Stan Weinstein's Stage Analysis method.

IBD Sector: International - China Bullish Percent Index

The strength in the Chinese stocks also showed up in the IBD Bullish Percent Index charts with the International - China sector Bullish Percent chart making a triple top breakout from the lower zone, and hence changing to P&F Bull Confirmed status.

US Stocks Watchlist – 25 August 2022

There were 64 stocks for the US stocks watchlist today

VIPS, MPWR, STLD, UDMY + 60 more...

Group Themes: China, Semiconductors, Steel, Software...

A huge list tonight!!! – it took over 4 hours just to go through the scans and mark up the charts – but the proliferation of Stage 1 bases and new Stage 2 breakout attempts is not something that I've seen in the watchlist scans so far this year. So today was a significant day in terms of what I'm seeing in the watchlist scans, as from a Weight of Evidence perspective, the amount of stocks and groups forming Stage 1 bases continues to increase, and the Stage 2 breakouts are starting to broaden out to more groups...

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