Seven stocks came up in my new high and good earnings scan:
ARMH is close to a green line break-out to an all-time high. It has to close above 50.
All indicators positive; AAPL leads techs higher; new high scan yields 9 stocks
With AAPL gaining strength, the tech stocks, reflected in the Nasdaq ETF, QQQ, are gaining strength. The Worden T2108 has rebounded to 68%, still in neutral territory. Readings of T2108 above 80% can often mean an overbought and extended market. The nine stocks that came up in my new high and good recent earnings scan Tuesday night are listed below. Six of them have blue flags to the left, indicating I placed them in a watch list because IBD had listed them as potentially strong stocks. All but UTHR and CVH have broken through a green line top and are in their top box. UTHR would need to close around 71 to trade above its all-time high last reached in March, 2011. Contrary to what most people think, a stock that breaks an all time high level that has persisted for months (a green line top) are often on their way to a series of new highs. Green line break-outs tend to mark the beginning of an advance, rather than the end. When a green line break-out fails, it can be a major sign of weakness and a top.
IBD sees resumed up-trend; GWRE: green line break-out
IBD gave up waiting for a follow-through day and now sees a resumed market up-trend. The GMI, however, has remained on a buy signal since late February. In fact, the QQQ may be about to break its recent top from last September. If it breaks through, we could have a large advance. Below are 10 stocks that came up in my new high and good earnings scan. They are all quite extended, but could be watched for a pull-back to support for entry. GWRE had a recent green line break-out to an all-time high and has a high IBD rating.
