Do we get Follow Through? | My Focus List

Oct 08, 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.

Market Thoughts

The QQQ started a new uptrend above a rising 21ema on Friday. This was coupled with strength from many growth names, software stocks in particular. The IWO and SPY are still much weaker and have work to do.

Now it’s all about if we get continued upward momentum off Friday’s move and see more breakouts and widening breadth.

Now let’s dive in ↓

Last Week’s Market Action

The QQQ, Nasdaq 100 ETF:

Let's cover each day's action:

Monday - Rally into the gap area
Tuesday - Gap down and follow through, negative expectation breaker
Wednesday - Holds Tuesday’s lows and starts range
Thursday - Continued range building, good close off lows
Friday - Gap down, strong rally into the end of the day back above gap area and 21ema

The IWO remains weaker and showed similar action. It is below the 21 ema

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 %)

ACMR ADBE AKAM AMAT AMD AMGN ANET ANF APP BHVN BILL CCCS CDNS CLS COUR CRNX CRWD CYBR DBX DDOG DKNG DT DUOL ESTC FN GOOG GTLB IMVT INTC IONQ IOT SN LII LLY LRCX MANH META MLTX MMYT MNDY MOD MU NET NTNX NVDA NVO OKTA ONTO PANW PCOR PDD PLTR QLYS RIVN RMBS S SAIA SLNO SMCI SNPS SPOT TSLA TTD UBER UNH VEEV VMW VRT VRTX XPEV ZS MBLY GPCR

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 73 names

I also look at the common themes in the charts. Software and Cyber stand out. Semis

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:

ACMR AKAM APP COUR CRWD DUOL NVDA PLTR SAIA SMCI TSLA XPEV MBLY

ACMR ideally forms a tight day before attempting the consolidation pivot