RE: Stan Weinstein's Stage Analysis and Market Breadth - Technical Analysis
(2020-04-29, 03:48 PM)isatrader Wrote:(2020-04-29, 03:41 PM)marry123 Wrote: All valid points you make. Yes, I have been focussing on the up move in the NASAQ and S+P watching many stocks make very large moves higher; however, if we do get over the 30 MA on S+P and DOW then maybe that will be the signal that this is indeed a new bull market starting with much higher highs to come and that this was not just a strong bear market bounce.
That may be the case, but a V recovery straight to new highs (in the overall market) is still very low odds imo (except the Nasdaq 100), as the high volatility we have, will likely continue throughout the year, which could mean multiple sharp declines still as a Stage 1 base forms, which will give many opportunities to get into strong leading stocks already in early Stage 2.
Thanks, Isa. If you have any Canadian stocks on your radar that you think fit the bill that are either in early stage 2 or in stage 1 with potential for breaking out please post them if you can. Maybe you have some kind of screener you know of that can find Canadian stocks in those stages? I only have Canadian dollars so miss out on all the big moves in the US tech/other stocks (only real good tech stock in Canada has been SHOP but not about to by it right now).
Canadian Pacific (railroad co.) is a Canadian company (attached)that if it breaks above its 30 MA and the TSX/S+P can get over their 30 MA weekly looks like a buy long. Do you agree?
Thanks.