I am thrilled to announce that I am finally back from my study break and ready to dive back into regular stock market analysis where I am able to fully dedicate my time and effort! I am excited to introduce a new format for our posts: Price-Pulse. This series will be published three times a week, providing you with in-depth analysis and insights into the stock market's movements and trends.
I would like to express my gratitude for your continued support and patience while I was away. Your thoughts and feedback have been instrumental in shaping the content and direction of these posts. This first edition of Price-Pulse is available for all to read. However, moving forward, the series will be exclusive to our paid subscribers, with occasional educational posts of course still being free for all!
Thank you for your understanding and support. I look forward to continuing our journey in the stock market together with Price-Pulse.
Check out my new website here for a FREE gift - stockbsessed.com
In the spirit of the 4th of July and as a token of appreciation for your patience during my recent hiatus, I'm excited to offer a two-week free trial for all my readers. Happy Independence Day! 🇺🇸
There is no doubt that we have seen a material shift in the overall health of the market for the better over the last few weeks with improving new highs/new lows metrics to back that up. Additionally, breakouts have been working and there has been some strong follow through for a change.
Regardless, sound risk-management principles and following our plans remain the main focus.
It is imperative not to lose focus just because some things are working or you see people around you mention any recent success they are having in the market - tune out the noise and completely remove any element of FOMO from you trading process.
Allow the setups to come to your and catch your eye when they meet your trade criteria, forcing any trades simply because the indexes continue marching up so things must be working is a sure way to hurt your account in the long-run.
Besides the overall improvement in the general market - I like how a number of thematics are starting to emerge with some strength - specifically:
Semiconductors
Crypto-related stocks
EV
The AI theme also remains one to keep an eye on.
General Market Overview
SPY 0.00%↑ Continues trending nicely above all key moving averages with the 10 EMA above the 20 EMA, above the 50 MA. Buyers continue to show up and offer support at key areas and moving averages with clear control over sellers. Very encouraging to see little give back and so far a strong hold of last Friday’s gap-up lows:
QQQ 0.00%↑ Now +44% off the lows and in a confirmed uptrend - no lack of buying here as key areas keep getting pushed and held on any weakness. Big players are buying and it is difficult for them to hide it here. Also encouraging to see little give back last session following Friday’s gap-up above this descending trend line and will be watching how it handles this over the coming week:
ARKK 0.00%↑ Remains within this overall large base it has been building since August ‘22 and below this key area just under 46. Clear momentum to the upside in the intermediate term as it now sits around +55% off the end-of-year lows:
IWM 0.00%↑ The weakest of the 4 and continues its process of choppy base-building. Would be an encouraging sign to also see small-caps get involved here along with other areas of the market:
Important to keep in mind that we are approaching a number of key areas of prior resistance on several weekly charts, however, the main focus remains following the trend which is currently to the upside along with assessing the feedback given from leading stocks:
Leading Stocks Analysis
I am linking the leaders watchlist in tradingview for your convenience, here
MARA 0.00%↑ - Marathon Digital Holdings closed +10.53% on the session, now +350.59% for the year.
Closed strong on the session with a 81.07% daily closing range. Remains a momentum leader here along with additional fuel from a hot sector with the overall bitcoin theme running hot:
APP 0.00%↑ - Applovin Corp closed +0.74% and is currently +141.57% for the year. Closed off with an 82.61% daily closing range as it now attempts to tighten up right above prior highs and all key moving averages:
SMCI 0.00%↑ - Super Micro Computer closed mostly unchanged as it ended the session just -0.02%.
Following an impressive run recently it is now up 197.16% for the year. Reverses on an intra-day basis to close poorly on the session with a 15.29% daily closing range:
AI 0.00%↑ - C3.ai closed +2.88% and is now +238.57% year-to-date.
Ended the session with a 95.02% daily closing range following a strong reaction to the 10/20 EMA’s as buyers showed up as support on an intra-day basis. Now watching for a push above this area of resistance around 37.75:
BRZE 0.00%↑ - Brzezinski Manufacturing closed the day -0.50%, now up 69.14% for the year. Ended off the session with a mediocre 40.66% daily closing range.
Has been acting well since the recent earnings gap-up and like how it is now attempting to tighten up right at the most recent highs. Now a double-inside day as it flags out well above all key moving averages:
CRDO 0.00%↑ - Cardo Medical declined -2.48% with a 32.39% daily closing range and is now +30.08% for the year.
Loses the 10EMA and now pulling back to the 20EMA - would like to see this key area hold with buyers showing up here moving forward if momentum is to continue to the upside:
ACLS 0.00%↑ - Axcelis Technologies lost -0.87% at the close with a 48.07% daily closing range and is now up 132.40% for the year.
Pushes an area of resistance and makes its way back up to new highs once again - ideally tightens up some more up here while flagging out above all key moving averages. Has been a momentum leader and is a smart idea to keep a close eye here:
DKNG 0.00%↑ - DraftKings closed down -1.20% with a 33.80% daily closing range on the session and is now up 137.56% for the year.
Like how this is tightening up over the last few session here above all key moving averages - has shown time and time again that this has the power and momentum to get moving well when buyers show up so watching closely for a push above this key area of resistance right under the 27 spot:
NVDA 0.00%↑ NVIDIA Corporation saw a rise of +0.26% with a 30.32% daily closing range and is now up 196.28% for the year.
Undoubtedly the liquid leader in the market as of late as it continues acting very well while barely giving anything back on weakness. Looking for this to tighten up right under this 430 spot and potentially offer another opportunity with that:
CFLT 0.00%↑ Confluent lost -3.03% loss on the session with an 8.51% daily closing range and is currently up 60.53% for the year.
Had bought this descending trend line breakout last Wednesday and thought that could potentially be the start of another momentum burst to the upside, however turned out to be a pop-and-drop situation where I opted to protect my cost basis instead.
Still watching this closely after it ran +90% in just a few weeks and is now attempting to tighten up above key moving averages:
MNDY 0.00%↑ Monday.com declined -2.57% by the market close with a 57.01% daily closing range and is now +39.68% for the year.
Currently living under the 20EMA and would like to see a reclaim of this rather soon - had been showing some encouraging signs with a quick +70% run in a few weeks fuelled by its recent earnings gap-up:
ELF 0.00%↑ e.l.f. Beauty closed down 0.86% on the session with a poor 26.29% daily closing range and is now up 104.64% for the year.
Continues trending nicely to the upside and is now around +50% from the base breakout from late March. Has had 2 positive reactions to earnings reports in a row which have fuelled this run:
CELH 0.00%↑ Celsius Holdings declined -0.62% with a 49.87% daily closing range, now +47.58% for the year.
Like how this is attempting to tighten up right around the 150 spot here - wicks above this key area show that sellers have been consistently coming in when pushing above - therefore watching for a strong push above if these sellers are eventually able to get absorbed. Encouraging responses to moving averages on weakness:
IOT 0.00%↑ Iota Communications closed down -0.76% with a 42.68% daily closing range and is now up 130.70% for the year.
Definitely one to keep on your watchlists here and has been very strong since the most recent +27.88% earnings gap-up with the HVC eventually proving to act as support on recent weakness.
Now like how this is consolidating below its descending trend line as it holds above the 10EMA:
TTD 0.00%↑ The Trade Desk rose +0.30% with a 92.04% daily closing range and is now up 75.94% for the year. Tried pushing above its recent highs but eventually pulled back into the 10EMA to then close strong on the session
Now watching closely for how this acts on a push above its descending trend line:
Individual Sector Analysis
I am linking the sectors watchlist in tradingview for your convenience, here
SMH 0.00%↑ The Semiconductor ETF, closed +0.89% on the session with a 74.18% daily closing range and is now +52.55% on the year.
Buyers continue showing up on weakness as seen by the most recent pullback to the 20EMA and it is encouraging to see short-lived pullbacks with strong responses:
XLY 0.00%↑ The Consumer Discretionary ETF, gained +1.21% with a 26.92% daily closing range, closing poorly on the session. Currently, +33.86% for the year.
Clear strength since recently making its way out of a long base, then pulls back just under the 10EMA to get going once again on a push above its most recent highs:
XLC 0.00%↑ The Communication Services ETF, ended the session +0.34% uptick with a 97.96% daily closing range, closing very strong on the session. At this point, it is 34.33% up for the year.
Has been in a well sustained uptrend with buyers showing up repeatedly at key moving averages. Now attempting to tighten up under this key area right under 65.50:
XME 0.00%↑ The Metals & Mining ETF, ended the session +1.02% with a 56.94% daily closing range and currently stands at +4.52% on the year.
Follows through well on its most recent breakout above this descending trend line with the 10 and 20 EMAs now above the 50DMA:
XLK 0.00%↑ The Technology ETF, closed the session -0.21% with a 67.44% daily closing range. At this time, it is +40.75% year-to-date.
No doubt that tech has had clear momentum to the upside since breaking out of its large base above the 152 spot - continues trending nicely above the 20EMA with buyers consistently showing up on weakness:
XES 0.00%↑ The Oil & Gas Equipment & Services ETF gained +1.07% at the close with a 65.45% daily closing range and is now +5.05% for the year.
Another one which got moving well after breaking above its most recent descending trend line here:
Scans
52 Week highs
9 Million breakout
+10% Breakout
Pocket Pivot
Focus List
NET 0.00%↑ Main focus into tomorrow’s session as I really like how tight this is getting here:
MEDS 0.00%↑ Quite a wild one here and positions size should reflect that but liking the strong close along with this double inside day here:
Thanks for reading guys! Let me know if you have any thoughts do let me know..