Some Momentum To Chew On

The market is having yet another solid Green Day as men who got short start covering bets. Earnings continue to help the bullish picture, but also make for a dangerous playing filed. I find myself sitting idle for the most part, giving time for more chart patterns to setup.

While I wait, here’s a look at the momentum screen inside Exodus. I’ve imported today’s full list to finviz for your viewing pleasure: CLICK HERE FOR CHARTS

Tickers of interest here include: FB, JD, NVDA, TSLA, STNE, & ERX

As always, you can follow my intraday activity inside our Exodus chat room. And, don’t forget, $TTD, $UBER, $DBX earnings after the bell.

That was the text the came through this afternoon from my younger brother, “Abandon Ship?” He was referring to his positions in his IRA, wondering if it is time to sell his stocks. My reply was, “I’m not sure.” With Interest rates falling, where else will people go for yield? But, with stocks just off all-time highs and currency wars at hand, now is not the time to be a hero.

A lower open likely gets ugly fast as people ponder this question, then Abandon ship. So watch for things to get fast should we see a red open. A green open likely gets sold as well, so I’m not looking to sink my teeth in a bunch of oversold plays. Also, we are still in earnings season, here are a few notable companies reporting:

#earnings for the week $DIS $ROKU $CVS $CHK $TTD $TEVA $TSN $CRON $ATVI $KHC $CYBR $ON $UBER $STMP $MRO $TEUM $BKNG $TTWO $MELI $NBEV $L $BHC $SWKS $WYNN $OSTK $DBX $KOS $GWPH $OESX $PLUG $CAR $LYFT $SHAK $CTL $HEAR $AMC $APRN $REGN $PLNT $SOGO $WWhttps://t.co/lObOE0dgsr pic.twitter.com/0FzT1Uc7Ri

— Earnings Whispers (@eWhispers) August 3, 2019

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Here’s your Monday Momentum screen, littered with inverse ETFs:

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Bulls need to hold the line here:

$NVTA is Wall Street’s latest biotech darling, even Citron is on the bandwagon calling for $100 price target. If you are unfamiliar with the company, now is the time to do a little research.

The technicals looks great here with the stock trying to push to fresh new all-time highs. Keep this one on the radar here, it can get fast above today’s high, $26.77:

What an ugly way to start the week as momentum names got absolutely clipped on no news. It’s Fed week, so nothing else matters, not even earnings. $AAPL earnings are on deck, but it likely will be a non-event. The market only cares about an interest rate cut.

Gold led the charge higher with $JNUG & $NUGT being the safe haven. Oil tried to get moving towards the end of the day and even closed green. Should we get a rate cut get ready for inflation and the $100 tomato. My guess is we see rates unchanged.

As for our momentum screen to sort through to start the week, here are the names: CLICK HERE FOR SCREEN.

$TSLA had a nice bounce back, $HEXO had a turnaround day, $OSTK continues to squeeze higher, $AKS is worth an eye, $HUYA is a buy with the esports hype, and $CHWY closed the day out like a man.

It’s a dangerous week to trade, so make sure to watch out for landmines.

Less is more.

Here’s a look at your important earnings dates this week, all laid out beautifully by Earningswhiper. Make sure to give him a follow.

#earnings for the week $AMD $AAPL $BYND $SHOP $SQ $MA $GE $PG $TWLO $APHA $MO $QCOM $AMRN $SIRI $BAH $EA $MRK $VZ $PFE $SPOT $AKS $NSP $AWI $ENPH $UAA $SNE $AMG $XOM $SNY $ILMN $X $GILD $CTB $GRUB $CHGG $LRCX $LLY $ZNGA $TSEM $WDC $GLW $ONDK $RL $GMhttps://t.co/lObOE0dgsr pic.twitter.com/xEZwXIMXel

— Earnings Whispers (@eWhispers) July 27, 2019

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It should be another fun week with $BYND kicking things off Monday afternoon, then $AAPL on Tuesday. $TWLO is also interesting here with the stock building a nice base since March. $SQ & $SHOP on Thursday. It should be a fun week.

Here’s your look at the top 100 rated stocks inside iBC’s trading software, Exodus. The following screen this week searches for stocks that have a high financial & technical score within our system (aka The Hybrid Score), and trade over 500,000 shares in average volume.

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

I’ve imported this week’s screen for your viewing pleasure, and it’s clear that the financials found their footing and have some of the best charts going forward:  CLICK HERE FOR RESULTS.

Here are a few of the current large cap leaders:

Have a good weekend all!