Five Stocks Paying Their Union Dues

Courtesy of The PPT algorithm, here are the most current top five readings from my “12631 RELATIVE STRENGTH” custom-made screen, identifying which stocks are exuding some of the best performances to the market at-large at any given moment.

I look for stocks whose Daily PPT Hybrid Score surges, while the Weekly Hybrid has been negative over the past week. This can often yield stocks which are emerging from consolidations.

Members can click here to view and save the screen.

Sorted for at least 500,000 shares of daily average volume to ensure liquidity.

Please click on image to enlarge.

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Here we have a base bottom candidate for a base metals miner.

Teck Resources has beeb obliterated over the past few years, but is now showing signs of emerging from a base bottom.

I am looking for $25 to be the next upside level to clear here, with $23.70 likely needing to hold below as support.

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I present the updated, zoomed-out 30-minute small cap chart which we have been observing throughout July to drive home the point that the Russell has yet to give the green light for another leg higher.

True, recent lows have held for a potential double-bottom (lower light blue line). But we could easily be working through a descending triangle (upper blue line too), which is often a bearish continuation pattern before breaking lower.

Either way, small caps continue to be an issue for the market and its inability to stage broad-based rallies as we head into the dog days of summer in August.

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Earnings are coming up this Thursday, but the action in GPRO may be good for a quick trade.

Note the daily chart threatening to break higher from the post-IPO technical base throughout July. The longer it holds over $44 the better.

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The following is just a small excerpt from my latest Weekly Strategy Session (please click on that hyperlink for details about trying it out). which I published for members and 12631 subscribers this past Sunday. 

Last weekend’s analysis of commodities revolved around coffee and crude oil. Crude turned in a mediocre week, with the USO ETF still needing to decisively clear $38 to the upside.

However, coffee impressed, with the updated ETN weekly chart showing a falling wedge breakout in progress. Clearing $36 is the next upside level for bulls to attack.

Returning to the precious metals and their miners, we know the action has been expectedly volatile and whippy of late. And yet, each apparent breakdown has been met with buyers stepping in, fearlessly, to stage a surprise rally. or at least stem the tide of selling. 

First, the gold and silver ETF weekly charts illustrate…

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If you enjoy my blog posts and videos, then I would encourage you to please click on this 12631 hyperlink for more details about joining our great team of traders at a very reasonable price. 12631 is a trading service which @RaginCajun and I direct here at iBankCoin.

Enjoy tonight’s video, and enjoy your evening. 

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