Traders are watching as the S&P500 futures trade higher this morning, at the top of a 4-week range. Indicators are turning bullish. Many stocks are set up to rally again today.
Summary
TICK cumulative (30 min), an early signal, turned bullish midday Wednesday. The only way this indicator can turn green or bullish is for institutions to be buying more stocks on the “uptick” than they are selling on the “downtick” on a cumulative basis.
Now we await the (60min) for a follow-through signal.
NYMO Trending
We’ve been looking for a turn in the McClellan Oscillator to add to our list of bullish indicators. NYMO turned the week of June 22. SPY price action is noted in the upper panel.
NYMO Oscillator is trending higher, The zero-line is within reach.
Futures are breaking higher as we send this out to subscribers. Good luck!
Robert’s List – Top 10
Here is Mr. Caplan’s list for today, Note these are ranked by performance. In addition, he usually day trades. Therefore, only swing the stock if it closes in the upper half of its daily range, preferably above VWAP and at highs.
| SYMBOL | NAME | CLOSE | CHG | % CHG | +/- | VOLUME |
|---|---|---|---|---|---|---|
| JMIA | JMIA – Jumia Technologies AG SPON ADS Each Rep 2 ORD SHS | 7.88 | 2.11 | 36.57 | 22654610 | |
| SEDG | SEDG – SolarEdge Technologies, Inc. | 157.92 | 11.35 | 7.74 | 1342665 | |
| DDOG | DDOG – Datadog Inc. | 96.13 | 6.04 | 6.70 | 3914872 | |
| ZS | ZS – Zscaler, Inc. | 120.85 | 7.01 | 6.16 | 3072789 | |
| PETS | PETS – PetMed Express, Inc. | 39.33 | 2.21 | 5.95 | 930061 | |
| PZZA | PZZA – Papa Johns Intl, Inc. | 88.26 | 4.38 | 5.22 | 1525641 | |
| CHWY | CHWY – Chewy Inc. | 49.99 | 2.19 | 4.58 | 3242988 | |
| SPLK | SPLK – Splunk Inc. | 205.16 | 8.48 | 4.31 | 2293519 | |
| MDB | MDB – MongoDB, Inc. | 234.05 | 8.56 | 3.80 | 717038 | |
| AVLR | AVLR – Avalara Inc. | 141.27 | 4.88 | 3.58 | 774491 |
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Happy Trading,
Vinny
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