Rotational correction

The market had a great opening which was quickly faded once first hour was over. Many stocks that had early morning breakouts faded by end of the day. All in all not a convincing positive day.

As market is as of now having mini correction/pullback, many high flying momentum stocks are also in same mode. But at the same time money keeps rotating and new stocks are emerging to take on the leadership from the current leaders.

Some stocks like TSLA continue to be in good momentum phase.

The momentum ranking is having some changes as this rotation continues.

Top ranked stocks by momentum:

rsol
yrcw
vrml
scty
tsla
csiq
htch
jaso
clnt
vnda
esi
rvlt
plug
tmus
mnkd
noah
ostk
unis
egle
spwr
iqnt
insm
ggs
drl
llen
ecty
aegr
dang
nsph
hsol

To find new leadership you have to go down the ranking and look at stocks ranked 31 to 100. In that some stocks are having very orderly pullbacks and they will be the first to breakout once market correction is over.

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