Top 10 Report – July 31, 2019

Market Insight

Good Morning,

The NASDAQ, S&P 500 and DOW have continued to make constructive progress over the last couple days and finished yesterday’s session just slightly below their recent all-time highs. The Russell 2000 continued to make constructive progress as well, although it remains the laggard of the bunch.

The distribution count now stands at 3 days on the NASDAQ and 4 days S&P 500. Fortunately, distribution days have been relatively mild and spread out, which is ideal.

More importantly, the uptrend in the general market continues to be supported by a broad base of healthy leadership. So, continue to keep track of the strongest stocks in the strongest groups, with the best fundamentals. Set your alerts and be prepared to buy these stocks as they emerge from constructive bases on heavy volume.

IMPORTANT: Earnings season is in full swing, so it is critical to check and recheck when a company is due to report earnings before initiating a position in their stock. These dates can change and often at the last minute, so be careful.

Sincerely,

The Indicies

The NASDAQ has continued to make constructive progress for the last couple days and finished yesterday’s session just slightly below recent all-time highs.

The Russell 2000 has been consolidating constructively over the last few weeks and looks ready to break out and head higher from here.

The S&P 500 has continued to make constructive progress over the last couple days and finished yesterday’s session just slightly below recent all-time highs.

The DOW has been moving sideways in a tight range over the last few weeks and has continued to hold above prior highs and respect its 21-DMA, which is constructive.

Top 10 Stocks

Buy CIEN on a big volume move through $46.23, with a sell stop at its 23-EMA &/or on a constructive pullback to $44.83, with a sell stop at its 23-EMA. (Price Alert: $46.23)

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Stocks on Deck

July 31, 2019

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