Bulls control the tape. However it is not wildly bullish environment. It is slow crawl kind of bullish move.
Stocks breakout make small moves and then goes sideways or in some cases reverse. But by and large they are going sideways.
Sector focus is in home builders and construction related industries and finance . Technology stocks are by and large laggards.
The kind of things that normally you see at this stage in bull move are absent:
- no wild big explosive moves in stocks
- no major junk movers
- my other indicators like are also not near levels which indicate top
- extremely muted secondary breadth figures
- no flood of IPO
All in all very different kind of bull move is underway.
Slow grind is leading to sideways moves and that shows lot of setups. Following stocks are showing up in our swing trading scans either as breakouts or pre breakout candidates.
WST C TUP OCN BKD ABR MENT ENB BAC ENR DHR POL BLK RJF BECN MDU WOR WYN STT RAS FITB SLRC JDSU BRKB PACW ITT ADBE AVY GEO KMX RPM PLL TRI AVT LINTA DRQ HAL TSCO TRAK AEGN LLY KBH WPP ENTG PRIM KAR SHO PCYC MON ODP CRAY NRF IPG DHI JEC HSNI GE EEFT SLB MDCO VRNT CELG VRSK A ASTX DCI SWFT TA HTZ FCEA FSS URBN KORS MR RIG TRIP GNW DLLR ENOC ANF KMI GA PNK ACHC AEGR PETS ERJ SFUN IDTI F WGO GPN CLB DGI ISIS EXPD QIHU RDC IRE ARUN CA MKTX MOH JCI WLP ACAD OMG CLR IHS B ACHN ANAD WIN NBR CNDO HMSY IRDM GFA EJ YPF