A Weekly Look At The US Stock Market

The S&P 500 finished higher on the week once again and is now threatening to break to new all-time highs as we head into the final quarter of 2016. Here’s your weekly look:

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It’s no surprise that oil and semiconductor stocks saw the biggest jump week over week in hybrid score. Here are last week’s leaders:

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As for individual names, here are a few names to watch this week. The following names saw the biggest jump in hybrid score week over week:

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For those left wondering just what the hybrid score is, CLICK HERE.

See you guys at the open.

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Here’s your weekly look at the top 50 stocks inside Exodus. The following 50 tickers are the best of the best in terms of combined technical and fundamental scores. The screen also eliminates companies that do not produce free cash flow. We only want the best.

I’ve imported this week’s top 50 tickers to finviz for your viewing pleasure: CLICK HERE TO VIEW THIS WEEK’S TOP 50 STOCKS. Charts in focus this week include:

Note: The results above are sorted by the average daily volume, NOT the actual ranking. To view the actual ranking, the official screen for members can be found & saved HERE.

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Much to my delight, $TWTR is up again in after hours on reports that Alphabet is evaluating a bid to add Twitter to Google. Here’s a look at the action in the extended hours session:

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Google is working with a financial adviser to consider a potential bid for Twitter Inc., as the social-media company continues to explore a sale, according to a person familiar with the arrangement.

In tapping Lazard Ltd., Google hasn’t indicated it will definitely make an offer for Twitter. But the move suggests that Google is evaluating the option, pitting the search giant against other potential bidders including Walt Disney Co. and Salesforce.com Inc.

Gina Scigliano, a Google spokeswoman, declined to comment. A Lazard spokeswoman couldn’t be reached for comment. READ MORE

Enough with the speculation, let’s get a damn deal done. It’s been a long hard road for Twitter investors. Have a good weekend all!

Disclaimer: Long $TWTR

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Inside Exodus, I run a chat room called The Pelican Room. Inside, we look for short term trades and momentum. This week was all about oil, as we had a number of charts trigger on OPEC’s decision to limit production.

Let’s take a look at a few of the trades this week, so you guys can have a better understanding of what goes on behind the scenes.

First off, industry is important. Very Important. If you can find the industry moving, you odds for a profitable trade increase tremendously.

Second, it is all about multiple time frames. You must zoom in and out different timeframes to find the action point in stocks. Once you can figure out these two things, trading becomes a little easier.

First up is $RIG, with oil moving we were looking for the stock to breakout of this falling wedge pattern. Here’s the daily chart before the break:

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Zooming into the 30 minute chart gives us a clear definitive line in the sand to find our action point. Notice the nice break with volume? that is where we want to enter the trade, and we did. The rest is history as you can see below:

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Here was the setup in $SGY, another name I traded in the room this week. This one was just about picture perfect on the daily. The stock was just about ready to breakout of the symmetrical triangle pattern when oil started to ramp:

I knew with oil ripping this one had to break, here’s the entry and exit:

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And, then there was $SAEX this morning. I got a little too greedy with this low quality name, but the setup I look for was there. Here was the 30 min chart this morning, which I took right at the action point:

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Unfortunately, this trade didn’t work and gave it to much rope while oil was staying elevated. I stopped out for a loss on the day:

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Anyway, hope this gives you a little a little insight to The Pelican room, and what we do inside of the matrix we call Exodus. Now, go sign up for the free trial!

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Here’s a look at your daily runner screen, which can be found at anytime inside the Exodus platform. I’ve imported the tickers from this morning’s screen to finviz for your viewing pleasure: CLICK HERE FOR CHARTS

Tickers in focus inside our live trading room include: FCX, PTCT, SSYS, SHLD, & SGY

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$DB is under pressure today, which is putting pressure on the overall market, on a report that states clients are reducing collateral on trades. It looks like CDS fears are back, and responsible for the market drop just after lunch.

The stock is down 7% on the news. Let’s see if we can hold Monday’s low of 11.23:

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