Tuesday had some nice price action. However, each time a new rally starts we get rotating leadership. That means a new industry is perking up and taking control. The previous ones might keep rallying, but these other industries are adding to the bullish thrust. In this video, Greg identifies one way to use predefined scans, change the scan language, and massage the results in sector, industry sorting. There are a couple of names perking up in an industry that has been waiting to move for a while.
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Website: https://ospreystrategic.org
Twitter, @SchnellInvestor: https://twitter.com/Schnellinvestor
Blog: https://stockcharts.com/articles/canada/
As the market tries to build on higher lows, the composition of the market strength is changing. The real issue is that each pullback has fewer industries able to reach prior highs. But one area holding up well is financials and the charts are just breaking out in many cases. They look good!
Con...
Greg works through sorting a ChartList and changing the charts to reflect the current environment. Within the Nasdaq 100, there have been some big out-performers. Here's how to find them, look at them and get some ideas for chart settings to help show the change.
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During the recent pullback, I have received calls asking if I would buy a stock that was down 40%. I explained that watching for relative strength during a pullback is important. Greg works through some of the reasons he is looking towards a couple of specific industry groups right now.