Mid-Week Routine – June 23, 2021

SUFO – Stocks Up From Open
SDFO – Stocks Down From Open
U/D – Up/Down
RV – Relative Volume
HRV – High Relative Volume
LRV – Low Relative Volume
EOD – End of Day
PLG – Potential Leadership Groups
DMA – Daily Moving Average
KMA – Key Moving Average

Leadership Day – Indexes finish up on the session with leadership groups leading from the open.
Rotation Day – Indexes finish up on the session with laggards leading from the open.
Distribution Day – Indexes finish down on the session on increasing volume vs prior day. Track index volume: https://www.traderlion.com/stock-market-exchange-volume/

2. Market Review

SP500Nasdaq
Market ConditionsConfirmed UptrendConfirmed Uptrend
Distribution Count33
Reclaim10DMA10DMA


What Would Webby Do (WWWD):

Date: Wednesday, June 23, 2021

Overview: Gauges holding at 10/10 on a closing basis, continuos progress being made as breadth remains strong across the growth domain.

Facts: +0.13%, 35% closing range on decreasing and below average volume.

Good: Close above TL Bolded Pivot $4205. SPX inside day on low volume, COMPQ action solid all around even with poor closing range as stocks underneath the surface acted incredibly well. IWM doing everything right in addition. Action throughout most of liquid leadership has been incredibly strong over the past couple of days with breakouts holding (NET DDD UPWK) and new breakouts setting up every session (SE SQ SNAP). Having to exclude setups going into subsequent sessions because there are so many ++.

Bad: Nothing

Candle: Small size positive body, longer upper wick and tiny lower tail.

Expectation: Sideways/Higher

Webby’s Really Simple Indicator (RSI): 1.96%

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Webby RSI – Low vs 21day EMA expressed as a percent. NOT the regular RSI that everyone hears about.

3. Sector, Group, Industry Review

1 Week Leading Performance-Momentum Groups: Solar, Software, Medical, Social Media, Consumer Discretionary
1 Week Lagging Performance-Momentum Groups: Miners, Utilities, Materials, Banking, Financials

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4 Week Leading Performance-Momentum Groups: SP Biotechnology, Software, Nasdaq Biotechnology, Social Media, Solar
4 Week Lagging Performance-Momentum Groups: Airlines, Materials, Miners, Banking, Home Construction

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Top 40 Industry Groups From MarketSmith

Top Industry Groups: Oil&Gas, Retail, Transportation, Metals/Steel, Commercial Services

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4. Key Watchlist Review

Brackets () show levels of interest on the upside/downside. These are key data-based levels to keep track of.

Hight Tight Flag Candidates (HTF) Watchlist

Standouts: BBW FUTU JILL PRTA QFIN* (40) VRTV

IPO Watchlist

Standouts: AGL APP ASAN* (45) ASO CRCT DASH FIGS* FOUR PATH PLTR RBLX* SEMR SNOW* (250) TSP ZIM ZY

Gappers Watchlist

Standouts: BGFV (25) BILL CELH CLF CROX (100) CRWD DDD (30) DT HYRE (20) LB LFMD NET (95/100) PYPL RUN* (50/55) SIG SPCE SNAP (60/65) TIGR (25) UPST UPWK (50/55) VCEL

Handwritten Notes:

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