What little hope Monday’s “up” day gave to the life of this rally has faded after yesterday’s sell off and now an opening lower for Wednesday.
Add to that – the institutional players continue selling, and we always want to be in-step with these market movers.
Between companies making earnings announcements, coupled with the weakening and some volatility in the general market, our stocks continue to get shaken up.
Here is a morning run-down of our TrendLine SetUps Portfolio:
Our RTEC (P/L: +4.1%) made decent gains yesterday, however the advance came as the company announced earrings.
Stocks which are holding up near highs: DHR (P/L: +1.0%), SINA (P/L: -1.8%), LYTS (P/L: +3.1%), SONC (P/L: +1.6%), WTS (P/L: +3.42%), DW (P/L: +4.8%), ERI (P/L: +27.8%), UNH (P/L: +10.4%), VLRS (P/L: +22.1%).
Then we have ORA (P/L: +16.6%), AHS (P/L: +16.4%) are starting to pull back from their highs.
Selections which are at or nearing support include: RTN (P/L: -2.7%), TMUS (P/L: -1.8%), LKQ (P/L: +1.5%), OLED (P/L: +5.6%), PLAY (P/L: -0.2%), XRAY (P/L: +1.0%), SEP (P/L: +1.8%), ORIT (P/L: +2.3%), HII (P/L: +13.4%), OSUR (P/L: +6.9%), DOC (P/L: +7.3%)
This is while CYNO (P/L: +4.5%) is showing continued weakness.
Earnings continue to be a factor as COTY (P/L: -4.6%) and INCR (P/L: -0.5%) sold off while announcing. The later also had a downgrade.
MXL (P/L: +7.4%) sits just under its 50 DMA.
EXLS (P/L: +3.7%) triggered a sell signal on Monday.
Regardless, here is a one stock from my TrendLine SetUps WatchList, which am I monitoring for a buyable breakout.