Market Outlook and Focus List 4/15
Hi everyone,
I hope you are having a great weekend!
In this post I’ll concisely share my thoughts on the market health and my focus list for next week. If you find it useful please make sure you are subscribed!
This article is brought to you by Deepvue. The platform that I use as my daily driver for screening, charting, alerts & more. Learn more at Deepvue.com
Now let’s dive in ↓
Market Action
The QQQ remains above all the moving averages.
The SPY is a bit weaker but is also above the MAs
The small cap growth IWO is the weakest but has now formed a higher low.
Trends ( Based on QQQ)
Shortest - 5 Day SMA - Up - Above Rising
Short-term - 21ema - Up - Above Rising
Intermediate term - 50sma - Up - Above Rising
Longterm - 200 sma - Up - Above Rising
Group/Themes Action
Looking through my screens I noticed strength in these areas:
Medical Specialties, Pharmaceuticals, Semiconductors, Software,Oil & Energy, Precious Metals
Focus List
Here is my focus list for next week. Let me know your thoughts on these stocks in the comments and let me know any tickers that you are watching closely.
Keep in mind some of these are lower dollar volume names which means you have to manage risk tighter.
APP AQUA CBAY CMPR DKNG DNMR DXCM EOG FSLR IONQ IOT LULU MAXN NVDA ONON OTTR PACB PODD PVH XOM
In Deepvue:
Final Thoughts
The market held up well last week and further setups are developing. We are above the KMAs on the QQQ and SPY.
Be ready for anything and manage risk!
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Have a great weekend!
Richard