The next report will be on Tuesday, February 18th.
There are two new setups in this report (PAYC, S), and two monitoring setups (ABNB, COIN). The latter two are monitoring setups because these stocks report earnings after the close today. Trading based on chart setups and signals is discretionary in nature. I do not initiate positions ahead of an earnings report, but will keep these stocks on my watchlist to see if the setups remain after earnings. These setups would no longer big viable should we get a big earnings-related move in either direction.
I am also showing four previous setups because price remains in the setup zone. In other words, price movement was minimal since the original report or the re-evaluation level is holding. For example, BNTX was hit with the rest of the biotech group, but it is trading in a support zone and just above the re-evaluation level. This means the setup has yet to be negated.
Stock picking has been a challenge since mid December, which is when breadth deteriorated. For example, the percentage of S&P 1500 stocks above their 200-day SMA fell to 49% on mid December and is currently at 55%. This means 45% of S&P 1500 stocks are below their 200-day SMA (long-term downtrends). The S&P 1500 includes the S&P 500, S&P MidCap 400 and S&P SmallCap 600. The broader market is mixed with almost half of its components below the 200-day SMA. I usually avoid stocks that are trading below their 200-day SMAs because I want the bigger trend to be in my favor.
– ABNB Breaks Out of Wedge and Crosses 200-day SMA
– BNTX Holds Breakout Zone and Leads
– MASI Breaks Out of Bull Flag and Leads Market
– FAST Sets up with Second Test of Bullish Setup Zone
– COIN Tests Breakout Zone with Small Falling Wedge
– SentinelOne Reverses at Bullish Setup Zone with Breakout
– PAYC Firms Near Key Retracement
– AAPL Holds Support with Short-term Breakout
If viewing the PDF in a browser, right click on charts to open in a new tab or window.
Use CRTL and the Plus or Minus keys (+ -) to zoom. 125% works best for me.
Send feedback to support(at)trendinvestorpro.com or use the contact form. [2]
Working with PDF Files
Why the shift to PDF? Working with ChartLists at StockCharts and PDF files is an effective and efficient manner to track and analyze a chart group (ETFs, stocks, Market Regime). It saves an enormous amount of “posting” time, which is the time required to copy/paste the text and charts for each section. With a ChartList, I simply print the charts and analysis to one PDF. This also serves as a good archive.
The charts in the PDF files are linked to a corresponding SharpChart at StockCharts. There are two ways to open the PDF file: through your browser or through an application like Adobe Acrobat. When viewing the PDF through your browser, the best way to open a chart is to right click on the image and choose open in new tab/window. When viewing the PDF through Acrobat, you can open a chart in your default browser by simply clicking on the image.
The example below is a screen shot from the PDF.
Send feedback to support(at)trendinvestorpro.com or use the contact form. [2]