Blog Post: Small-cap stocks have likely formed a bottom and started to advance, check out these weekly and daily charts for $IWM and $TNA, https://wp.me/pqq9l-6Lr

@ 9:59 pm
GMI6/6
GMI-27/9
T210858%

TNA is the triple leveraged bullish ETF for IWM, the Russell 2000 index ETF. I prefer to trade TNA, like I trade TQQQ when QQQ is in an up-trend.  TNA advanced +8% on Tuesday while IWM advanced +2.6%. Now that the tech stocks have moved up, it is fitting that people feel more comfortable buying the small caps. I think that IWM has formed a bottom. Do you agree? Check out these daily and weekly charts.

 

 

 

Blog Post: Day 25 of $QQQ short term up-trend; GMI=6 (of 6) and Green; Market in solid up-trend, set-ups working, $PANW, after recent GLB, to open up strong on Monday, see daily, weekly and monthly charts for green line signals; see list of 23 stocks at ATH

@ 10:47 pm
GMI6/6
GMI-27/9
T210853%

PANW kept coming up in my ATH scans. It had a GLB to a new ATH  on May 26. It finally closed above its green line of $213.61 on Thursday, June 1. I bought some on Friday. Friday evening it was announced that PANW will be added to the S&P500 index and the stock has taken off during the after market. Funds and ETFs that mimic the S&P500 index must now buy PANW. My reason for illustrating this trade is to let you know that a stock’s strong behavior often occurs before the news is out. Insiders may have been buying PANW prior to the announcement and their buying caused the stock to have a green line breakout, GLB, to an ATH. The huge up volume day was after recent earnings were released. When an earnings release is followed by a large gap up it can be the beginning of a significant move up. Nicolas Darvas wrote years ago that the atypical volume in a rising stock often enabled him to get on board with the insiders who knew good news was coming. A stock’s and the market’s behaviors are the things to watch. Here are the daily, weekly and monthly charts for PANW. On the monthly you can see all of the green lines drawn in. I draw a green line on a monthly chart at the highest bar that is not exceeded for at least 3 more bars (3 months). I am looking for stocks that reach an ATH, rest for at least 3 months and then break out (GLB) to close above their former peak price.

I have written that I am reinvesting in the market. My trend indicators are strong and many stocks are moving up. Here are 23 stocks on my recent IBD/MS lists that reached an ATH on Friday. They are sorted by the last column, which shows the close Friday/lowest close the past 250 days. Seven have already doubled their yearly lows. I own a few of these stocks.