Top 10 Report – December 18, 2019

Market Conditions

The general market is healthy and making constructive progress to the upside.

Market Sentiment

General market volatility is low and the crowd is unemotional and even keeled.

Market Status

We are in a confirmed uptrend and looking to establish long positions in the highest quality leaders, as entry areas present themselves.

Market Insight

The NASDAQ, S&P 500, and DOW have continued to make new all-time highs since the last report. Meanwhile, the distribution count is unchanged and hardly a concern at this juncture.

Fortunately, the same leading sectors and industry groups we’ve been discussing over the last several weeks all remain healthy and broad. As a reminder, they were the technology, medical/biotech, retail, building, financial and transportation sectors. Also, no significant rotation has taken place over the last few weeks, so all the leading groups we’ve been discussing remain in play.

Keep in mind, when leadership is this broad, watch lists tend to grow quickly and when the market is cooperating like it has been recently, it’s hard to not want to buy every stock that triggers an alert on volume. So, homing in on the very best of the best and waiting for the perfect entry to develop in terms of risk/reward is key.

So, continue to keep track of the strongest stocks in the strongest groups, with the best fundamentals. Set your alerts and be ready to buy these stocks as entry areas present themselves.

The Indicies

The NASDAQ has continued to make all-time highs since the last report and is now extended above its short-term moving averages where a bit of a breather wouldn’t be surprising.

The Russell 2000 has continued to make constructive progress higher, but continues to trade well below its prior all-time highs and lag the other major indexes.

The S&P 500 has continued to make all-time highs since the last report and is now extended above its short-term moving averages where a bit of a breather wouldn’t be surprising.

The DOW has continued to make all-time highs since the last report and is now extended above its short-term moving averages where a bit of a breather wouldn’t come as a surprise.

Top 10 Stocks

Buy CYBR on a big volume move through $124.67, with a sell stop at its 200-DMA. (Price Alert: $124.67)

Buy IPHI on a big volume move through $75.78, with a sell stop at its 23-EMA. (Price Alert: $75.78)

Buy OLED on a big volume move through $208.01, with a sell stop at its 65-EMA &/or on a constructive pullback to $198.30, with a sell stop at its 50-DMA. (Price Alert: $208.01)

Buy PYPL on a big volume move through $108.49, with a sell stop at its 200-DMA. (Price Alert: $108.49)

Buy QCOM on a big volume move through $90.46 with a sell stop at its 50-DMA. (Price Alert: $90.46)

Buy SE on a big volume move through $38.00, with a sell stop at its 23-EMA. (Price Alert: $38.00)

Buy SHOP on a constructive pullback to $376.91, with a sell stop at its 23-EMA.

Buy TPX on a big volume move through $88.71, with a sell stop at its 50-DMA &/or on a constructive pullback to $86.75, sell stop 50-DMA. (Price Alert: $88.71)

Buy AVTR on a big volume move through $18.85, with a sell stop at $17.99 &/or on a constructive pullback to $17.99, with a sell stop at $16.60. (Price Alert: $18.85)

Buy EDIT on a big volume move through $31.78, with a sell stop at $30.00. (Price Alert: $31.78)

Buy PCRX on a big volume move through $46.85, with a sell stop at its 23-EMA. (Price Alert: $46.85)

Buy RGEN on a big volume move through $92.05, with a sell stop at its 23-EMA. (Price Alert: $92.05)

Stocks on Deck

The following list of stocks may become actionable at any time. If and when these stocks actually trigger a legitimate entry area, they will be included in the chart section above. Ticker symbols in red indicate extreme risk.

ADSK – Constructive pullback to $181.36, sell stop 23-EMA. Long from $181.36 entry area, sell stop 23-EMA.

FTNT – Constructive pullback to $106.00, sell stop 23-EMA. Long from $106.00 entry area, sell stop 23-EMA.
LSCC – Pivot point $21.18, sell stop $19.80.
MELI – Pivot point $598.55, sell stop 200-DMA.
ALGT – Pivot point $174.92, sell stop 23-EMA.
CMG – Constructive pullback to $825.60, sell stop 65-EMA. Long from $825.60 entry area, sell stop 65-EMA.
MUSA – Pivot point $121.24, sell stop 23-EMA.
NMIH – Pivot point $34.50, sell stop 23-EMA.
YETI – Pivot point $34.20, sell stop 50-DMA.
BRKR – Pivot point $50.22, sell stop 50-DMA.
RETA – Pivot point $215.10, sell stop 23-EMA.



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December 17, 2019

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