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Tackle Today: A stock pickers market?

May 7, 2020

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Winners and Losers the last week

Traders,

During the market selloff in March, nearly everything was down big.  From the mid-March rally to recent pivot highs, nearly every stock in the S&P 500 was up big.  Stock prices were moving in unison as ‘one market’.  But we are starting to see something different in the price action the last week. 

Major winners have been big tech companies like MSFT, AAPL, ADBE, FB and NFLX, as well as gaming companies ATVI, EA and TTWO. 

Major losers have come from the Banking sector, Utilities, Industrials and Energy firms.  BRK-B, JPM, BAC, WFC, C and others have all been selling as well as GE, HON, CAT and DE. 

This split in performance is remarkably interesting and its starting to move charts in many of these areas into different patterns.  It is beginning to look more like a ‘stock pickers market’ where you can find good bulls and good bears depending on the stock and the chart.

It is always good practice to have a list of Bullish and Bearish companies on your watchlists.  This past week is reminding us to dial those different watch lists in and prepare for a move in either direction.


Chart of the Day

Heat Maps

In the chart above, you see a one-week heat map shows the split between winners and losers.  The market is set to open up today and should move some of the red performers into the green, which will further illustrate the split.


Video of the day

Trading Basics: Using Heat Maps

Learn how to use Heat Maps in this tutorial video from Coach T.


Rookie Corner

What HollyWood HAs Taught ME About Fundamental Analysis

Good Day Rookie Bloggers! I hope and trust you are all doing well in these turbulent times? I fully understand this is a struggle for a lot of people as this has pushed many of us way out of our comfort zones in a multitude of ways.

Traders Lounge 11 AM EST

Join the coaches in this live lounge, ask questions, discuss ideas or just sit back and listen to veteran traders discuss market conditions.

Cashflow Club 8:30 PM EST

Held every Thursday before Friday’s option contract expirations, this show helps you perfect your favorite cashflow strategies.

Halftime Report 12:30 PM EST

The Halftime Report starts at 12:30 EST and covers what news is driving the market, chart analysis from the movers and shakers of the day and fun in a way that only Matt and Tim can deliver.


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