Market 4 days up in a row and needs a breather — we’re all about looking for new bases so let’s take a look at some IBD picks (that automatically pass through a lot of hoops by just being on the list). VEEV IBD #3 high base here in 122 zone — would love a quasi handle.
It will be especially interesting if these IBD picks set up in MarketSmith’s Near Pivot scan, one of our favorite duo combos. We like PANW IBD # 4 with 20sma holding — weekly looks good too.
MTCH #32 looks better on weekly than daily — has formed the handle and now needs to show strength — over 56 would do the trick.
LULU #19 in deep base, needs to show strength, over 150 would do trick.
ALXN #29 weekly has been stuck in this range for a long time. Over 138 would get our attention.
Market in day 4 of bounce from 50sma weekly and now chopping along near SPY 280 — all good but needs a breather. This is the time to do your homework and look for bases and add alerts. See you on the streams. HCPG