Top 10 Report November 18, 2019

Market Insight

Very little has changed over the last week. The NASDAQ and S&P 500 are both still trading at new all-time highs, earnings season has maintained a positive tone, and a broad base of leading growth stocks have continued to form constructive bases, breakout on heavy volume and make worthwhile progress higher.

There has been no shortage of constructive setups in leading areas of the market such as the technology, medical/biotech, retail, building, financial and transportation sectors. Not to mention, there are plenty of new names popping to the surface.

For example, DDOG, PTON, TXG, INMD, CSTL and PGNY are just a few recent IPO’s that have been exhibiting constructive strength. Also, there are plenty of new leaders starting to take shape in companies that have been around for a while such as, QCOM, AMD and RGEN to name a few.

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

NOTE: Earnings season is winding down, however, it’s still important to check and double check when a stock is due to report EPS before initiating a position. These dates change, and often at the last minute.

The Indicies

The NASDAQ gapped up and rose 0.73% on heavier volume last Friday and finished the week at new all-time highs.

TheĀ Russell 2000 continued to hold up and trade sideways in a tight range above significant support last week and is looking ready to follow the other major indexes to new all-time highs.

The S&P 500 gapped up at the open and rose 0.77% as volume on the NYSE expanded last Friday and finished the week at new all-time highs.

The DOW gapped up, rose 0.80% and finished last Friday’s session at new all-time highs, although volume declined from the day before.

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November 17, 2019