A Make or Break Week - My Focus List

Oct 01, 2023

Hi everyone,

I hope you are having a great Sunday!

In this post I’ll share my wide watchlist and my focus list going into next week.

Video

Market Thoughts

We are at a very key spot here. We’ve had a few days of a short term rally off the bottom up towards declining moving averages.

It’s now time for the uptrend to either prove itself, or the weakness that started Friday will confirm and this will just be a bounce in an uptrend.

Be sure to subscribe if you haven’t yet so you don’t miss any future articles!

Now let’s dive in ↓

Last Week’s Market Action

The week showed some promise as we formed a range near the prior base bottom and had a rally. However, it faltered Friday as we entered the gap area and appraoched the downtrending 21ema

We remain in the down-cycle until we get back above the 21ema

The QQQ, Nasdaq 100 ETF:

Let's cover each day's action:

Monday - Gap down very strong close
Tuesday - Gap down and follow through, negative expectation breaker
Wednesday - Upside reversal with a good close at the key level
Thursday - slight gap down and strong move
Friday - Gap up and then selloff, holding near the prior close

The IWO remains weaker and showed similar action. It is below all MAs.

Wide Watchlist

The first step in my process is to go through my main weekend screens in Deepvue as well as my previous weeks watchlist and pick out stocks that catch my eye, are developing, current leaders, or are showing significant strength.

The Screens I Run

Deepvue Universe Screen (Preset)
Liquid Strength ( Looks for high $ Volume names with strong RS Scores)
Wide IPO Screen ( Looks for recent IPOs in past few years with decent RS Scores
Pure Momentum ( Looks for High Momentum movers with high ADR %)

AAOI ABNB AFL AKAM AMGN ANF APP AVAV BHVN BRZE CAMT CNX COIN COST COUR ARM CRWD DELL DFIN DKNG DUOL ESTC FLR FN FTI GRPN IMVT INSM IONS SN MOD MRTX MSOS NTNX OKTA OLLI PARR PDD PUMP REGN RELY RIVN SAM SLNO SMCI TDW TEVA TIGR TNGX TT UBER VRT WIRE WSO WW ZS MBLY SKWD URNJ

The # of stocks on this wide list as well as the groups they are in inform me on rotation and the health of the market. This week there are only 59 names

I also look at the common themes in the charts.

Focus List in Deepvue

From the universe list I make several cuts to focus on the highest potential, most actionable names for the next week:

ABNB AKAM AMGN COST CRWD DUOL ESTC MOD RIVN UBER MBLY

ABNB needs a few day range near KMA