We go through our usual suspects every day looking for set-ups but at least once a week we do deeper searches as we go thru the entire IBD50, the MarketSmith NearPivot scan, and our custom scans looking for new trading set-ups.
LULU IBD #19 we like how it’s sitting under 176 in this channel with 160 floor. Happy to be patient here for it to set up.
MNST #29 one of those stocks we always want to get involved with but rarely find a good set-up in as movement seems more random than our usual suspects. That being said new base under 66 would get us interested.
PYPL IBD #11 high base at 114 — needs to get closer to 20sma weekly for us to get interested but undeniable strength across time-frames.
TWTR #16 on the IBD 50. We like how it is trying to protect 37/50sma — if you want to swing it entry is here with stop on today’s lows.
From bottom of BB to top of BB in 5 sessions and then the digestion — could we be in for another sweet spot (trend between upper Dev 1 and 2). Possible — SPY holding 287.7 today on closing basis would be good start.
See you on the streams. HCPG