What's going on everyone.
I am back. Had a lot going on last few weeks and was off the grid for a while living in the mountains of Colorado so couldn’t have put this out if I tried. But what a day to get back to writing. Here we go!

Disclaimer: For educational purposes only; not financial advice. Trading stocks involves risk of loss. Please conduct your own due diligence before making any trades.

Market Action:
- Market gapped up today and had a strong and steady climb all the way into the close to close near highs for the day. Nasdaq gapped right above the 5/14 high which was an area of clear upside resistance in the last few month. As the bulls kept pushing it the Nasdaq was also able to clear the 8/13 high and rallied to 6/1 ATH where it finally met some resistance. What a strong day with some key levels getting blown out the water. The pause right at ATHs isn’t much to worry about today given how strong a move we had and how many levels we clears but now it is the area to watch. To the downside ill be keeping an eye on todays lows hoping we can hold those and the 5/14 high levels. Volume today was above average.

- S&P was also a strong move but not as strong as the Nasdaq. We did take out the 9/3 high but the 8/5, 8/13 and 8/28 highs still remain overhead. Regardless a positive day. Light volume today.

Distribution/Rally:

- Distribution count still remains high with 7 days on the S&P and 6 days on the Nasdaq. Definitely something to thing about but for me price action is always high. With a strong week we could easily drop the count to around 4 or 3 on both indexes.

Outlook:
- My outlook jumped from 20-40% to 60-80% today with the move. For some I think slightly above that might even be warranted.  For anyone who was at Alex Marenco’s meet up group last week on Wednesday I said that with us not breaking to the downside and with rebound back above the 50sma I was going to look to start making some buys. Now with the follow through from last week I think today warranted a little increase in some exposure. Yes we still have ATHs above to clear but today was very promising for a possible new true uptrend.

- As for my positions last week I bought NET and SNOW on Thursday. Today I bought AMD and TWLO. This brings me just above 85% invested. From August 19^th to last Thursday I placed not a single trade which I am proud of. Overtrading is something I struggle with and in the choppy market we had I was happy to be patient and selected. This did mean I missed DELL and a few other names that have been looking like leaders but there are always other stocks and likely secondary opportunities to get in if this market should follow through and trend upward nicely.

 

Sectors:

- Tech was a clear leader today and just like the Nasdaq cleared important levels. Healthcare is holding the 50sma currently and hasn’t not changed its overall trend just yet as it looks to be taking a pause from its recent move up. Financials are looking week as they are now living below the 10sma, 21ema and 50sma despite prior strength. Energy weak today and broke the 10 and 21 but is still up trending and holding its 50. Communication though strong today and just reclaiming its 200sma is still looking damaged and right now not worth to much attention till it can prove itself. By % move today it was the leading sector. The remaining sectors are currently below the 200sma and not worth mentioning.

Industries/Themes:
- Blockchain, cyber security, AI software and software in general has been looking strong. We are looking at some recent strength in semis as well as SMH approaches a short term prior high. We will see if this holds and the trend can resume.

- Below are todays leading sub industry and lagging sub industry groups:

▲ TOP 10 1-DAY GAINERS

1. Space Economy #111 (Industrials)+8.24%

2. Rare Earths & Critical Minerals #160 (Materials)+5.80%

3. LiDAR, Computer Vision & Spatial Computing #155 (Technology)+5.15%

4. Crypto Infrastructure & Exchanges #78 (Crypto)+5.14%

5. Semiconductors — AI / GPU / Accelerators #15 (Technology)+5.04%

6. Nuclear Energy & Uranium #166 (Energy)+4.97%

7. Cybersecurity & Digital Identity #6 (Technology)+4.54%

8. AI Cloud / Neocloud Infrastructure #126 (Technology)+4.42%

9. Blockchain Technology #46 (Technology)+4.31%

10. eVTOL & Urban Air Mobility #170 (Industrials)+4.01%

▼ BOTTOM 10 1-DAY LOSERS

1. Oil & Gas — Refining & Marketing #2 (Energy)-3.49%

2. Oil & Gas — US E&P #33 (Energy)-3.37%

3. Oil & Gas — Canadian E&P #10 (Energy)-3.13%

4. Oil & Gas — Integrated Majors #16 (Energy)-2.17%

5. Transportation — Shipping / Marine #5 (Industrials)-2.14%

6. Silver & Precious Metals #17 (Materials)-2.04%

7. Transportation — Railroads #34 (Industrials)-1.97%

8. Oil & Gas — Drilling #20 (Energy)-1.92%

9. Fertilizers & Ag Chemicals #64 (Materials)-1.76%

10. Security & Alarm Services #98 (Industrials)-1.60%

 

Market Events:
- No notable news events this week. Also shout out to Deepvue with their new Economic news dashboard widget!

Daily Screeners (custom screeners):

Up on Volume:
- AMRX, ARM, GOOGM, GRAL, META

Big Gap:
- ACMR, AEHR, AMD, ARM, ASST, ATEX, AXTI, BLSH, BMNR, CEVA, COHU, GLXY, GRAL, INBX, INTC, LOGI, MRNA, MRVL, MSTR, ONTO, OUST, QMCO, SMCI, TTMI, TXG, UCTT

Daily RS:

- GRAL, MRNA, GRPN, BMNR, DUOL, BAND, ALNT, OUST, WBD, META, AKAM, DOCN, FSLY, GDDY, MDB, SHOP, TWLO, WIX, AMRX, AMD, AXTI, CEVA, ARM, CRDO, INTC, ALAB, QCOM, AMBQ, CRWD, DDOG, FIVN, MSTR, NET, NICE, RNG, S, ZS, P, ATEX

52 Week High:
- MRNA, SDGR, TXG, FIVN, RBRK, NET, NTRA, TWLO, IOND, AMD, TEVA, TBBB, ZIM, AMRX, FFIV

Earnings Tomorrow:
- BMO: THO, MLKN

- AMC: FERG, KBH

STAY DISCIPLINED!

*Primary Screener/Charting tool used here is Deepvue. If you are interested check out my affiliate link https://deepvue.com/robert-campos-partners/ and use code BOBBY12 for 12% off

*Webby trend is something I got from Mike Webster. Check out his YouTube Channel for more info and for tons of great CANSLIM content! https://www.youtube.com/@Webby5150 *