TL’s Weekly Stock Market Recap: August 21, 2020

TL’s Weekly Stock Market Recap covers the following:

* S&P 500 and Nasdaq Distribution Count and Support
* Leading and Lagging Groups/Industries past 5 sessions
* Leading and Lagging Groups/Industries past 4 weeks
* Day by Day Review with Journal Notes
* Market Index Review via Top 10 Report
* Strong Fundamental Scans
* Top 40 Fundamentally ranked IPO Stocks
* Chart of the Week

SP500 NASDAQ
Markets Confirmed Uptrend Confirmed Uptrend
Distribution Count 2 2
Support 10DMA 10DMA
Last 5 Sessions
Leading % Change: Home Construction, China Internet, Software, Technology

Lagging % Change: Oilers, Banking, Energy, Aerospace, Airlines, Financials

Last 4 Weeks
Leading % Change: Home Construction, Solar, Retail, Transports, Technology, Casinos

Lagging % Change: Biotechnology, Oilers, Energy, Banking, Aerospace, Utilities

The Past Week: 5 Day 15 min Chart, Volume Stats and Commentary via @TLPrivate_

Acronyms

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

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/

Notes and Annotation by @RayTL_

MARKET INDEXES REVIEW VIA TOP 10 REPORT

Market Index Review by @RossHaber

Strong Fundamentals with heavily weighted future growth List by @Ben – Data from MarketSmith

Fundamentally Ranked Top 40 Stocks List by @RichardMoglen – Data from MarketSmith

Fundamentally Ranked Top 40 IPOs List by @RichardMoglen – Data from MarketSmith

Chart of the Week by @Jack  – NVTA

Key Takeaways:

* A recent “Gapper”
* Pay close attention to pivot re-tests

Past Weekly Reviews

August 22, 2020