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Both had a recent GLB after which they consolidated for several weeks and then broke out again. All had 4wk>10wk>30wk averages, my prime pattern for advancing stocks. They also had a weekly green bar, indicating a bounce up off of the 4 week average. Stocks at new ATHs after a market decline are often the new leaders.

TJX came up on one of my TC2000 scans looking for a stock at a recent ATH that is bouncing off of support or oversold. TJX had a GLB (green line break-out) on November 16 and then went sideways finding support around the green line. It never closed back below the green line. Today TJX closed above its exp21 day average (purple solid line) on higher volume and had recent black dots indicating oversold.  If I bought this set-up I would place an immediate sell stop below the recent low. Its composite rating is only 85 but Fidelity Contrafund has a position. It has a nice weekly chart with the avg4>avg10>avg30 and a weekly green bar. While set-ups can give me an edge, I  must always have an exit strategy that minimizes potential losses.

Weekly 10:30 chart is a good indicator of the market’s long term trend. When the 10 week average climbs above the 30 week the bear market is likely over. This has happened for DIA and SPY. However, as this chart shows, QQQ is not there yet. 10 week average is dotted line. Solid gray line is weekly close. QQQ has just closed above its 30 week average (red line) and needs to stay there to bring the 10 week above.