The U.S. market remains in a Confirmed Uptrend. The S&P 500 and Nasdaq made new all-time highs this week, continuing to trend higher off 10- and 21-DMA (S&P 500: 3,652; Nasdaq: 12,351) support. The distribution day count is mixed at six and two, respectively, though both have avoided clustering into further expiration next week.
Symbol: YETI
US Focus
The U.S. market remains in a Confirmed Uptrend. The S&P 500 and Nasdaq pulled back off highs, however, both continue to hold trend above 21-DMA support (S&P 500: 3,625; Nasdaq: 12,170) with limited distribution. The distribution day count stands at five and four, respectively, with one day expiring on the S&P 500 and two on the Nasdaq next week.
US Focus
The U.S. market remains in a Confirmed Uptrend. The S&P 500 and Nasdaq are trending into new all-time highs after clearing out from consolidation this week. Near-term support for both indices remains this rising 10-DMA (S&P 500: 3,642; Nasdaq: 12,215). The distribution day count declined, falling to four and three, respectively, with no further expiration next week.
US Focus
The U.S. market remains in a Confirmed Uptrend. The S&P 500 and Nasdaq are trading at all-time highs. Support remains the rising 10- and 21-DMA (S&P 500: 3,546; Nasdaq: 11,790). Each index has six distribution days, however, three expire on each next week, including one on Monday.
US Focus
The U.S. market remains in a Confirmed Uptrend. The S&P 500 and Nasdaq traded relatively flat on the week, consolidating within 2% of all-time intraday highs. Both indices tagged and held 10-DMA support this week. Support below that level remains the rising 21-DMA (S&P 500: 3,512; Nasdaq: 11,665).
US Focus
The U.S. market remains in a Confirmed Uptrend. The S&P 500 and Nasdaq are trading near alltime highs, holding above 21-DMA support (S&P 500: 3,466; Nasdaq: 11,532) after reversing off intraday highs on Monday. The distribution day count stands at seven and six, respectively, with one expiring on the S&P 500 Monday and another on Tuesday.
Yeti
What’s happened? Overall, YETI reported a blowout quarter, beating estimates
by a large margin in all metrics (+13% on revenue and 65% on EPS vs.
consensus). DTC (Direct to Consumer) was again the major driver of the beat, up
62% y/y (vs +34.5% expected by the Consensus). Combined with a solid margin
expansion, bottom line growth was exceptional: adj EPS grew 137% y/y. The
stock broke out of a consolidation base on heavy volume as it gained more than
16% yesterday post results. We would recommend investors to add to
positions.
Won Global View
The U.S. market has shifted back to a Confirmed Uptrend. The S&P 500 and Nasdaq gapped up for a third straight session and are now trading just 2% off highs and near October high resistance (S&P 500: 3,550; Nasdaq: 11,965). The 10- and 21-DMA have begun to turn back up on both indices and will act as initial support should a pullback occur. The distribution day count now stands at seven and five, respectively, with one day expiring on each Monday. Though the count remains elevated, it should be noted that the distribution days that occurred on October 28 and October 30 are already 5% below current prices and therefore less relevant.
US Focus
The U.S. market is in a Confirmed Uptrend. The S&P 500 and Nasdaq regained their respective 50-DMA this week and are now testing resistance at October highs (S&P 500: 3,550; Nasdaq: 11,965). The 10- and 21-DMA have begun to turn back up and will now act as near-term resistance should a pullback occur. The distribution day count stands at seven and five, respectively, with one day expiring on each Monday.
Won Global View
The U.S. market remains in an Uptrend Under Pressure. The S&P 500 and Nasdaq rallied for a second straight session and are now facing resistance at their respective 50-DMA (S&P 500: 3,400; Nasdaq: 11,296). September lows remain near-term support, followed by the 200-DMA. The distribution day count stands at eight and five, respectively, with one day expiring on the S&P 500 tomorrow and another on Monday.
