Mid-Week Routine – June 23, 2021
2. Market Review
|Market Conditions||Confirmed Uptrend||Confirmed Uptrend|
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 ++.
Candle: Small size positive body, longer upper wick and tiny lower tail.
Webby’s Really Simple Indicator (RSI): 1.96%
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
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
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
Standouts: AGL APP ASAN* (45) ASO CRCT DASH FIGS* FOUR PATH PLTR RBLX* SEMR SNOW* (250) TSP ZIM ZY
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