Top 10 Report – December 4, 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 finally cracked below their 10-DMA’s, as well as the tight channels they formed over the last 5 weeks or so. The Russell 2000 also fell sharply, but managed to close above its 10-DMA as well as major support. Distribution is still not a concern.

The VIX and Put/Call Ratio spiked, although the McClellan Oscillator is still not near extreme levels. Ideally, I like to see all three at extremes at the same time. Regardless, it is worth keeping a close eye on these indicators here.

Leading growth stocks remain in good shape despite recent weakness in the general market. There are still plenty of constructive setups to be found across the market’s broad base of high-quality leadership.

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 finally broke below its 10-DMA as well as the steep, narrow channel it formed over the last 5 weeks or so, however, its action over the last couple days was has been completely normal and to be expected after such a powerful move to new all-time highs.

The Russell 2000 broke below its 10-DMA along with the other major indexes, but bounced at logical support, closed near its high for the day and back above its 21-DMA and 23-EMA, which is ultimately healthy, constructive action.

The S&P 500 finally broke below its 10-DMA as well as the steep, narrow channel it formed over the last 5 weeks or so, however, its action over the last couple days has been healthy, normal and to be expected after such a powerful move to new all-time highs.

The DOW finally broke below its 10-DMA as well as the steep, narrow channel it formed over the last 5 weeks or so, although it bounced at logical support and closed near its high for the day yesterday, which is ultimately healthy, normal action and to be expected after such a powerful move to new all-time highs.

Top 10 Stocks

Buy COUP on a big volume move through $155.14, with a sell stop at $144.87. (Price Alert: $155.14)

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

Buy NOW on a big volume move through $284.30, with a sell stop at its 23-EMA. (Price Alert: $284.30)

Buy SHOP on a big volume move through $349.44, with a sell stop at its 50-DMA &/or on a constructive pullback to 325.83, with a sell stop at its 50-DMA. (Price Alert: $349.44)

Buy CMG on a big volume move through $825.60, with a sell stop at its 65-EMA. (Price Alert: $825.60)

Buy PLNT on a big volume move through $74.90, with a sell stop at its 200-DMA. (Price Alert: $74.90)

Buy CRSP on a big volume move through $74.00, with a sell stop at its 10-DMA. (Price Alert: $74.00)

Buy CUTR on a big volume move through $38.88, with a sell stop at its 23-EMA &/or on a constructive pullback to $35.85, with a sell stop at $33.65. (Price Alert: $38.88)

Buy IOVA on a constructive pullback to $24.12, with a sell stop at its 23-EMA.

Buy NEO on a big volume move through $26.48, with a sell stop at its 23-EMA. (Price Alert: $26.48)

Buy RGEN on a big volume move through $89.95, with a sell stop at its 65-EMA &/or on a constructive pullback to $86.08, with a sell stop at its 65-EMA. (Price Alert: $89.95)

Buy TNDM on a big volume move through $71.99, with a sell stop at $66.00. (Price Alert: $71.99)

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.

ADBE – Pivot point $310.00, sell stop 23-EMA. Long from $302.05 entry area, sell stop 23-EMA.
EPAM – Constructive pullback to $201.00, sell stop 50-DMA. Long from $201.00 entry area, sell stop 50-DMA.
FB – Constructive pullback to $193.10, sell stop 50-DMA. Long from $193.10 &/or $198.09 entry areas, sell stop 50-DMA.
PAYC – Constructive pullback to $259.71, sell stop 21-DMA.
SE – Pivot point $38.00, sell stop $35.00.Long from $37.47 entry area, sell stop $35.00.
ACA – Pivot point $39.32, sell stop 23-EMA.
LOCO –Constructive pullback to $15.44, sell stop 23-EMA. Long from $15.44 entry area, sell stop 23-EMA.
ALLK – Constructive pullback to $92.84, sell stop $85.50. Long from $92.84 entry area, sell stop $85.50.
AMRN – Pivot point $22.06, sell stop $20.87.



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December 4, 2019