IPO Rewind

This report identifies a select group of IPOs or spin-offs that have priced in the last two years, giving them time to digest any initial volatility and release a few quarters of earnings. Our selected ideas display positive fundamental trends with strong top- and bottom-line consensus estimates, and IPO Rewind provides an efficient way to review these ideas that we believe warrant attention.

Stocks highlighted in this report: Adyen (ADYE.NL), Alteryx Inc (

), Docusign Inc (

), Livent Corporation (

), Twilio Inc (

), Yeti Holdings (

), Zscaler Inc (

).

WON Global View

The U.S. market is in a Confirmed Uptrend. The S&P 500 and Nasdaq gapped down at the open yesterday, but both closed at session highs and avoided distribution. The major averages are constructively consolidating sharp gains over the past month, holding their 50-DMA support in the process with little-to-no distribution.

WON Global View

The U.S. market is in a Confirmed Uptrend. The S&P 500 and Nasdaq held support along their respective 50-DMA last week before pushing higher Friday. Both indices are now testing resistance at January 18 intraday highs (S&P 500: 2,675; Nasdaq: 7,185) before a potential move to the 200-DMA. Overall action remains constructive, with just one distribution day on the S&P 500 and zero on the Nasdaq.

Market View

The U.S. market is in a Confirmed Uptrend. The S&P 500 and Nasdaq held support along their respective 50-DMA early
this week, before pushing higher on Friday. Both indices are now testing resistance at January 18 intraday highs (S&P 500:
2,675; Nasdaq: 7,185) before a potential move to the 200-DMA. Overall action remains constructive with just one
distribution day on the S&P 500 and zero on the Nasdaq.

Since the follow-through day, five sectors have rallied more than 10%, including Transportation, Consumer Cyclical, and
Technology, which each have rallied more than 11%. Nine of 11 sectors remain above their respective 50-DMA, with only
Utility and Consumer Staple still trading below that level. The rally is broadening, led by industry groups across multiple
sectors including Apparel, Banks, Brokers, Computer Tech Services, Internet, Medical Products, Mortgage Services, Payment
Processors, Rails, Restaurants, Semiconductors, and Software, among others.

WON Global View

The U.S. market is in a Confirmed Uptrend. The S&P 500 and Nasdaq pulled back to their respective 50-DMA for a second straight session but were again able to hold support and avoid distribution. Look for the indices to continue avoiding distribution and preferably stay above 50-DMA support should we see further consolidation.

WON Global View

The U.S. market is in a Confirmed Uptrend. The S&P 500 and Nasdaq pulled back to their respective 50-DMA (S&P 500: 2,623 (-0.4%); Nasdaq: 6,973 (-0.7%)) yesterday, but both were able to find support, close off lows, and avoid distribution. There remains just one distribution day on the S&P 500 and zero on the Nasdaq. Given the sharp rise off December lows, consolidation around current levels can be expected. Look for the indices to continue avoiding distribution and preferably staying above 50-DMA support.

WON Global View

The U.S. market is in a Confirmed Uptrend. The S&P 500 and Nasdaq both regained their respective 50-DMA last week. We will be looking for this level to act as support should the market pull back. The next level of major resistance is the 200-DMA (S&P 500: 2,741 (+2.6%); Nasdaq: 7,451 (+4%)). Action remains constructive with just one distribution day on the S&P 500 and zero on the Nasdaq.

Market View

The U.S. market is in a Confirmed Uptrend. The S&P 500 and Nasdaq both regained their respective 50-DMA. We will look
for this level to act as support should the market pullback. The next level of major resistance is the 200-DMA (S&P 500:
2,741 (+2.6%); Nasdaq: 7,451 (+4.1%)). Action remains constructive with just one distribution day on the S&P 500 and
zero on the Nasdaq.

Since the follow-through day, five sectors have rallied more than 10%, including Transportation and Consumer Cyclical,
which each rallied more than 11%. Further, nine of 11 sectors regained their respective 50-DMA, with only Utility and
Consumer Staple still trading below that level. The rally has been broad, led by industry groups across multiple sectors
including Apparel, Banks, Biotech, Brokers, Computer Tech Services, Internet, Medical Products, Mortgage Services, Rails,
Software, and Trucks, among others.