[isatrader]

$VIX volatility index spiking a bit at the open. Sign to be cautious.

   

---

$SI attempting to breakout of the four month base for a potential return to Stage 2. Volume run rate at 368% vs 50-day MA so far.

   

---

Early market strength in the small caps, energy, financials and discretionary

   

---

Some of the larger stocks stocks in focus:

AMD, AMZN, DDOG, NVDA PYPL, SNAP, SQ TSLA

$TSLA following through in the early trade

   

---

Note if you are overweight in growth stocks then after a strong few weeks some consolidation & backing up would be quite normal. The key is to judge the character of the price and volume action on any pullback i.e. is it constructive (on lower volume with tightening price action)

   

---

$DASH attempting to shake off the earlier weakness at the open. Potential for a breakout attempt

   

---

Nasdaq 100 attempting to turn up again

   

---

$SNAP showing good RS today as it moves back through the anchored VWAP from the recent earnings gap (SOS)

   

---

$SNOW also showing good RS as it approaches the IPO week high resistance

   

---

$ABNB triggered an alert as it's attempting to break above the recent significant bar

   

---

$PYPL making a move through the near term pivot

       

---

$FUTU I'm starting to have more of bullish bias in my analysis of this, as the price action since the spring has been developing well. Need to see it commit back above the 200 day MA and 50 day MAs and hold above for while to see a change of character.

The weekly chart currently has a Stage Analysis Technical Attributes (SATA) score of 3, as its outperforming the S&P 500, but not its peer group yet (software), and is in Stage 3B-, so still some work to do, but has gone up from SATA 2 to 3 with todays move so far. But obviously depend on how it closes the week. But is close to going to a SATA rating of 4 as well, as the RS versus the peer group is approaching the zero line.