The Closing Print live trading and financial blog during market hours.

Stocks make the MarketSmith Blue Dot list when they satisfy two criteria: first, they’ve hit a 52-week high in their Relative Strength line. This is where you’ll notice a translucent blue dot appear on the Relative Strength line of the stock’s chart. Second, the stock is currently building a base. If both of these conditions are present, the stock goes on the list for 90 days. You can access the list by clicking on the “Open Stock Ideas” button in the top-right corner on any MarketSmith chart.

MarketSmith Blue Dot Scan

The first thing stocks on the Blue Dot list have shown is that they are outperforming the market (specifically, the S&P 500) in the strongest waypossible. This is important because the highest-potential stocks will show strength by outperforming the market in any market conditions.

Avid Bioservices


Avid Bioservices (CDMO) broke out on Monday after completing a 4 week flat base at 52-week highs.  

Relative Volume (RVOL) was 2.4 times normal with RS Line at 98 and rising. 

Earnings and sales are growing at a rapid pace, estimated to increase +183% to 0.17 / share for 2022.

Estimates for 2023 are equally impressive at +100% to 0.34 / share.

The second important characteristic of Blue Dot stocks is that they’re building a base, which means you’re not chasing an extended stock that has less potential for short-term growth. After all, even the best stocks take time to retrench after sizeable runs. A stock that’s currently in a base will have a clear buy point in MarketSmith thanks to the Pattern Recognition feature.

Veritiv Corporation

Veritiv Corporation (VRTX) broke out of a base on base pattern Monday on Relative Volume (RVOL) exceeding 3.2 times normal. The company reported 2nd Quarter June 2021 earnings of $1.87 per share on revenue of $1.7 billion. This amounts to a beat of 240%.


The consensus earnings estimate was $0.81 per share on revenue of $1.5 billion. Revenue grew 18.1% on a year-over-year basis.

Relative Strength Line = 99 and rising.


Watchlist Results

Watchlist results for the week are ranked by performance. Ethereum (+9.99%) rose on Monday with strength in bitcoin and blockchain stocks. Tumken Steel was up by (5.78%) with infrastructure, steel and materials stocks rising with byers active most of the day.


Join us today in the trading room for our LIVESTREAM broadcast during market hours, as we navigate the current environment. Watch, listen, and trade from 9:20 AM to 4:15 PM Monday through Friday.

Happy Trading,


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Disclosure: As an #ibdpartner, that means my use of investors business daily suite of services is complimentary. I also receive compensation from the company for my technical analysis services.