Scalper1 News
Major averages rose yesterday on higher volume. The NASDAQ Composite had its third day of higher close above the 5000 resistance level. It stands a mere 1.48% below its all time high of 5,132. It’s the last major index to hit new highs because it carried the most explosive upside back in late 1999/early 2000 just before the dot.com bubble burst. NASDAQ futures are up sharply this morning after big after-hours, post-earnings moves in Amazon.com (AMZN), Google (GOOGL), Microsoft (MSFT), and Starbucks (SBUX) last night while the S&P futures remain relatively flat. Boding well for a continued uptrend, another slew of actionable names appeared further demonstrating healthy market internals: Automotive parts retailer ORLY had a buyable gap up on a strong earnings report. Earnings are accelerating, ROE 39.1%, group rank 43. Pocket pivots: Cannabinoid maker GWPH – another pocket pivot. We reported on this stock on April 13 when it had a pocket pivot. It is the leading stock in its space. Clothing retailer GIII – earnings are accelerating, group rank 31. Clothing retailer HBI – earnings and sales are accelerating, ROE 44.1%, group rank 31. Cosmetic beauty retailer ULTA – gapped up on its prior earnings report. Group rank 44. IT management services company TYL had a pocket pivot after reporting earnings. There was a tug-o-war but the bulls seem to be winning. Pretax margin 23.6%, group rank 10. Scalper1 News
Scalper1 News