Choppy action

There is a subtle change in tone of the action. Below the surface many high flying stocks are now in correction and more are joining the rank. The Worden T2108 indicator is now at 53.97. That indicates only 53% of stocks are now above their 40 day moving average. The T2108 was at 74 just few days ago.

However dip buyers continue to be active and indexes have closed well of their high 3 days in a row. Hurry to sell is lacking.

The stocks with momentum are undergoing rotation and new stocks are emerging.

RVLT is ranked 16 by momentum and was consolidating for few days and had a nice breakout on high volume yesterday.

Top 25 ranked stocks by momentum

  1. rsol
  2. yrcw
  3. vrml
  4. scty
  5. tsla
  6. csiq
  7. clnt
  8. htch
  9. jaso
  10. plug
  11. vnda
  12. mnkd
  13. noah
  14. esi
  15. tmus
  16. rvlt
  17. cnit
  18. hsol
  19. unis
  20. insm
  21. ostk
  22. nsph
  23. spwr
  24. iqnt
  25. sdbt
I am watching IQNT, ggs, lllen, ctrp, rh, chci and couple of more for possible breakouts from Top 100 ranked momentum stocks. 

No comments: