Top 10 Report – December 23, 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 all finished last week at new all-time highs, well extended above their short-term moving averages. The Russell 2000 also closed at new highs for the week, extended above its short-term moving averages, although it continues to lag below its prior all-time highs. The distribution count currently stands at 5 days on the NASDAQ and 3 on the S&P 500, which is hardly a concern at this juncture.

The uptrend in the general market continues to be well supported by a broad base of healthy leadership. No significant rotation has taken place over the last few weeks, so all the leading sectors and industry groups we’ve been discussing remain in play. They were the technology, medical/biotech, retail, building, financial and transportation sectors.

Continue to keep track of the strongest stocks in the strongest groups, with the best fundamentals. Focus on the very best of the best and wait for the perfect entry to develop. Set your alerts and be ready to buy these stocks as entry areas present themselves.

The Indicies

The NASDAQ rode up its short-term 4-EMA on heavy volume over the last 7 days and then closed at new all-time highs for the last 6 consecutive sessions, which is a sign of power.

The Russell 2000 rode up its short-term 4-EMA on heavy volume over the last 7 days and then closed at new highs on 6 of the last 7 sessions, which is a sign of power, although it continues to lag the other major indexes, yet to reclaim its prior all-time highs.

The S&P 500 rode up its short-term 4-EMA on heavy volume over the last 7 days and then closed at new all-time highs for the last 6 consecutive sessions, which is a sign of power.

The DOW rode up its short-term 4-EMA on heavy volume over the last 7 days and then closed at new all-time highs for 6 of the last 7 sessions, which is a sign of power.

Top 10 Stocks

Buy COUP on a big volume move through $155.77, with a sell stop at its 50-DMA. (Price Alert: $155.77)

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

Buy MELI on a big volume move through $598.55, with a sell stop at its 200-DMA. (Price Alert: $598.55)

Buy NOW on a big volume move through $284.30, with a sell stop at its 200-DMA. (Price Alert: $284.30)

Buy OLED on a big volume move through $208.01, with a sell stop at its 65-EMA. (Price Alert: $208.01)

Buy PYPL on a big volume move through $109.83, with a sell stop at its 200-DMA. (Price Alert: $109.83)

Buy SHOP on a big volume move through $404.80, with a sell stop at its 23-EMA &/or on a constructive pullback to $376.91, with a sell stop at its 23-EMA. (Price Alert: $404.80)

Buy TTD on a big volume move through $267.64, with a sell stop at its 23-EMA. (Price Alert: $267.64)

Buy PLNT on a big volume move through $75.97, with a sell stop at its 23-EMA. (Price Alert: $75.97)

Buy AVTR on a big volume move through $18.85, with a sell stop at its 23-EMA. (Price Alert: $18.85)

Buy ICPT on a big volume move through $120.82, with a sell stop at its 21-DMA. (Price Alert: $120.82)

Buy RETA on a big volume move through $219.97, with a sell stop at its 23-EMA. (Price Alert: $219.97)

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.
GRMN – Pivot point $98.76, sell stoop 23-EMA.
INTC – Pivot point 459.13, sell stop 50-DMA.
QCOM – Pivot point $90.46, sell stop 50-DMA.
SE – Constructive pullback to $38.00, sells top 23-EMA. Long from $37.47 &/or $38.00 entry areas, sell stop 23-EMA.
UCTT – Constructive pullback to $22.80, sell stop 23-EMA. Long from $22.80 entry area, sell stop 23-EMA.
CNNE – Pivot point $38.63, sell stop 23-EMA. Long from $29.78 entry area, trailing stops for 1/2 at its 10-DMA and ½ at its 23-EMA.
CPRT – Pivot point $91.59, sell stop 23-EMA. Long from $82.81 entry area, trailing stop 23-EMA.
MUSA – Pivot point $121.24, sell stop 23-EMA.
NMIH – Constructive pullback to $34.50, sell stop 23-EMA. Long from $34.50 entry area, sell stop 23-EMA.
BIIB – Pivot point $309.06, sell stop 23-EMA.
BRKR – Pivot point $52.23, sell stop 50-DMA. Long from $50.22 entry area, sell stop 50-DMA.
CCXI – Pivot point $36.88, sell stop $34.00. Long from $32.35 entry area, sell stop 10-DMA.
ISRG – Pivot point $596.04, sell stop 23-EMA. Long from $569.98 entry area, trailing stop 23-EMA.

Follow-up Commentary

The following list of stocks have triggered valid entries and are in the middle of a move, where other than sell stops, there is nothing else actionable to discuss. Ticker symbols in red indicate extreme risk.

Top 5 Follow-up Performers:

ACA – Long from $39.33 entry area, trailing stop 23-EMA.
AMD – Long from $32.05 entry area, trailing stop 23-EMA.
BURL– Pivot point $229.96, sell stop 23-EMA. Long from $209.60 entry area, trailing stop 23-EMA.
LULU – Long from $194.25, $204.44 &/or $209.02 entry areas, trailing stops 23-EMA.
RGEN – Long from $86.08 entry area, trailing stop 23-EMA.


ALGT – Long from $174.92 entry area, sell stop 23-EMA.
CVNA – Long from $85.07 entry area, trailing stop 23-EMA.
CYBR – Long from $124.67 entry area, sell stop triggered below its 200-DMA on 12/20.
EPAM – Long from $201.00 entry area, trailing stop 23-EMA.
FB – Long from $193.10 &/or $198.09 entry areas, trailing/sell stop for ½ at its 23-EMA and 1/2 at its 50-DMA.
LRCX – Long from $272.58 entry area, trailing stop $283.00.
PING – Long from $21.00 entry area, trailing stop 23-EMA.
PTON – Long from $27.98 entry area, profits taken below its 23-EMA on 12/120.
CMG – Long from $825.60 entry area, sell stop 65-EMA.
CROX – Long from $36.99 entry area, trailing stop $39.00.
LOCO – Long from $15.44 entry area, sell stop triggered below its 23-EMA on 12/20.
TPX – Long from $88.71 entry area, sell stop 50-DMA.
YETI – Long from $34.20 entry area, sell stop 50-DMA.
ALLK – Long from $92.84 entry area, profits taken below $114.00 on 12/19.
EDIT – Long from $31.78 entry area, sell stop 30.00.
INCY – Long from $89.30 entry area, profits taken below its 23-EMA on 12/18.
INSP – Long from $66.52 entry area, trailing stop 23-EMA.
NEO – Long from $26.48, entry area, sell stop 23-EMA.
PCRX – Long from $46.85 entry area, sell stop 23-EMA.



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December 23, 2019

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