kaltbaum email

The expectation is that the market has some more upside near term based on last week’s late action. Also seeing good set-ups in financials with a WFC breaking out…and not much bad happens when financials have a bid. Just keep in mind, there are a zillion reports coming out in the next two weeks and that the overall market is just in a range. If they start to move the leaders, I will issue alerts on them but right now, just a few holds of the 50 day and trading range action.

 

 

My growth leaders list:

 

 

 

Going through it, it is easy to see that the market has not enabled big gains recently. Most are just sitting (which is a good thing when markets are hit) while others have pulled into the 50 day (which is also fine as long as they hold) and a few that have broke below and are bye-bye for now. AMZN,CRUS,EBAY are 3 names that are off for now. EXPE would have come off if not for a good bounce back into the 50 on Friday.

 

 

 

AAPL- Setting up well into earnings…but 5th stage base.

AMZN– Breaks 50 day…wide and loose…off this list for now.

ALXN- Pullback mode after breaking out…trading sloppy…but stilll strong.

BIIB- Sits tight while others pull in…blah numbers.

CRUS– Breaks 50 day…SEMIS very weak group. Comes off this list.

CERN- Holds the 50 day.

DLTR- At 50 day…not thrilled with bearish wedge just above 50 day. A break below and bye-bye. Late stage.

EQIX- held 50 day to the penny on Thursday…acting fine as it rides it up.

EXPE- Breaks 50 day…almost off this list.

EBAY– Breaks 50 day…off list for now.

MNST- Sitting on 50 day and holds over past couple of days.

PETM- Very strong…didn’t budge.

PRGO- wild action after getting extended. Needs to tighten up.

ROST- Held 50 day on numbers. Late stage group. Acting fine.

SHW- Holds 50 day to the penny Thursday and back in base. Already big move.

TRIP- Holds 50 day to the penny on Friday and bounces strong. Potential big leader.

TJX- Moving into new highs here…but have to watch group. Continues to ascend nicely.

ULTA- Reverses back above 50 day on Thursday and is holding in new base.

V- Held 50 day to the penny on Thursday and back in base after failing breakout. MA is wide and loose.

WFM- still strong…nothing to do. Pulls in quietly.

 

 

 

 

 

Other notes:

 

 

 

I cannot help but mention the continued strength in the reits,drugs,food,beverages,household products, utilities, telco utilities. The new high list on the nyse is just about all reits and utilities. This service typically does not play these areas but had to make note of them. Here is a list for your review from the new high list:

 

MRK,JNJ,VZ,STZ,CTL,T,LLY,CLP,WEC,ACC,RAI,HCN,CL,KMB,DLR,NEE,CCI,CLGX,VTR,EQR,GXP,NNN,

STWD, DPS,WTR,CPT,POR,OHI,DEI,EDR,SKT,EXR.

 

 

 

Not on the new high list but with good charts are ABT,BMY,CHD,ECL,HSY,HNZ,KO,LO,MO,MKC,PEP,MO.

 

The issue with all these names is that growth is too slow…meaning they are capped on how far they can go…but I wanted to give you list just in case you like low beta, mega cap stuff with some having decent dividends.

 

 

 

 

 

 

 

 

 

 

 

Homebuilders continue to act great…new highs in LEN,MDC,MTH,PHM,SPF,RYL,TOL. Extended from recent move. I do think they may start pulling back here.

 

 

 

 

 

 

 

For the first time in months, a few financial names have showed up…just on a technical basis…not a fundamental basis.

 

 

WFC in a cup and handle breakout of early pivot…34.60 is next high.

STI needs to break above $25…but report this week. Great chart.

COF needs to leap above $55.40 but also reports this week.

DFS very strong relative strength and good pattern.

USB looks perfect but also reports this week.

TCBI low volume name…look how strong that it. Never budged.

BBT shaping up but also reports this week.

Nice handles along 50 day in XLF and IYF.

 

Had to mention TGT…should have played after watching WMT. Perfect breakout on Tuesday…look what happened Friday. Good to see that type of action.

 

IYR looks perfect as an ETF for the REITS. I mentioned some REITS earlier.

 

As far as plays, I am still in the trading camp and not investing. I have this sneaking suspicion that there could just be some more flop and chop.

 

HD is buyable moving above 53.28.

 

I think you can probe CTRX and ULTA here off the 50 day…but you must stop if the 50 day is broken to the downside.

 

I love the setups in STI,UNP,USB,COF but all report this week.