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 the monthly chart for McDonalds, a major winner since they turns the ship around in 2003.

Recently, however, the business model has slumped again.

Should we see a monthly close below $89 I would consider this chart a major breakdown candidate, with the highlighted light blue lines denoting a busted wedge pattern.

With increased competition and changing consumer tastes, the Golden Arches had better make the right adjustments again.

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I am not going to force the issue on the short side as long as the small caps and biotechnology stocks continue to show strength and even outperform the market of late. Until that changes, cash is my favored position in this relief rally within an ongoing correction. While the likes of CMG IBM KO are getting pounded, those small caps and biotechs are up 0.88% and 1.5%, respectively. That said, into bounces now I am looking at CMG as a short setup. I also suspect the move in Apple is bound to be faded.

One of the hallmarks of a market correction is seeing a lingering bounce which abruptly rolls over and sets up the next leg down. So, that is one scenario I am mindful of, given the technical damage we have seen.

What are you trading this morning?

Here are some actionable short ideas on this list, especially if the market sees another day of weakness.

Courtesy of The PPT algorithm, here are some very aggressive ideas for short trades headed into Friday If you are not comfortable shorting (especially in a bull market), there is nothing wrong with taking a pass. Keep those cover-stops in place.

Nonetheless, a good chunk of readers are always looking for short ideas.

Members of The PPT can click here to view and save this “Titanic” Screen, as I named it when I created it a few years back. The screen isolates stocks vulnerable to further weakness.

Please click on image to enlarge 

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For you night owls out there, feel free to drop me any market/trading-related topics you would like me to cover in a weekend video.

In addition, anything else about the current market, feel free to drop below.

Speak your mind, night owls.

After a few days of bouncing, I have my eye on the mega cap semiconductor Intel as a short setup into Tuesday.

On the daily chart, below, note the bear flag pattern forming after the recent correction off the highs. I like this as a short on weakness.

I am also considering SOXS as a bearish ETF for the semis as a whole on weakness.

Drop me your top tickers overnight.

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