Confirm Uptrend – Page 2 – WILLIAM O'NEIL+CO

Market View

Posted on March 9, 2018March 15, 2018 by Raj Gupta

Market Overview

The U.S. market has been upgraded to a Confirmed Uptrend. The Nasdaq broke into all-time highs while the S&P 500 gapped up through its 50-DMA after a better-than-expected jobs reports. Technology, driven by Soft-ware, Semiconductor, and Internet Content, remains the leading sector, however we have noticed improvement across multiple sectors including Financial and Cyclicals. Although markets remain volatile, we advise buying stocks from leading sectors/industry groups as they emerge from constructive consolidations or pull back into areas of support.

Stocks on our U.S. Focus List: Current Sentiment

Our USFL of 76 ideas (two additions) gained 3.5% on average this week, outperforming the S&P 500 (3.3%) but trailing the Nasdaq (4.0%).

By Sector

The USFL significantly outperformed the general market this week, with contribution across all sectors. Technol-ogy ideas increased 4.5% on average due to strength from software (ATVI, TEAM, MB), semiconductors (ON, MKSI, CY), and Internet-Content (GRUB, WB). Health Care ideas increased 5% on average, led by IDXX and ABMD. VRTX was up 3% and remains actionable. Financial ideas increased 4% on average, led by payment processors (SQ, PAGS, PYPL) and regional banks (SIVB, WAL). Other standout ideas this week include Healthequity (+7%) and Wingstop (+6%).

Market View

Posted on December 15, 2017October 17, 2019 by Raj Gupta

Market Overview
The U.S. market remains in a Confirmed Uptrend. The S&P 500 and Nasdaq moved back into all-time highs this week as distribution fell. There are now three distribution days on the S&P 500 and four on the Nasdaq. All three distribution days on the S&P 500 expire next week, while the Nasdaq loses one. The market continues to be led higher by value-oriented sectors, though Technology did retrace the majority of its pullback this week. We re-main patient on new buys as quality leadership continues to consolidate. Most will enter their fourth week of consolidation next week.
Stocks on our U.S. Focus List—Current Sentiment
Our USFL of 70 ideas (one removal) gained 0.8% on average this week, underperforming the S&P 500 (+0.9%) and the Nasdaq (+1.4%).

By Sector
Technology ideas primarily from Software-related industry groups led this week. Most ideas on the U.S. Focus List found support at the top of their prior bases and have now regained their respective 50-DMAs. Notable re-coveries include NOW, ATVI, TTWO, MB, RNG, and CRM. Retail/Consumer ideas continue to lead with SKX, EL, FIVE, OLLI, WING, and HD remaining at or near new highs.

Market View

Posted on December 9, 2017October 17, 2019 by Raj Gupta

Market Overview
The U.S. market remains in a Confirmed Uptrend. The Nasdaq held its 50-DMA this week, while the S&P 500 remained at all-time highs. Distribution stands at five days on the S&P 500 and four on the Nasdaq with expira-tion beginning next week. Multiple sectors, including Financial, Retail, and Transportation, continue to act well, all trading at all-time highs. Technology did find support over the last three sessions, but the majority of ideas are still forming new bases. We continue to recommend a patient approach to Technology until we see more ideal entry points in individual ideas.
Stocks on our U.S. Focus List—Current Sentiment
Our USFL of 71 ideas (one net removal) was flat this week, in-line with the S&P 500 (+0.3%) and the Nasdaq (0%).

By Sector
Retail ideas on the U.S. Focus List remain under accumulation. FIVE, WING, and HD remain at new highs, while OLLI is actionable after it pulled back to its pivot post-earnings. Consumer Staple ideas also continue to act well with BUFF, EL, and MNST remaining at all-time highs. Technology ideas did bounce, but most are not actiona-ble yet. AVGO, FB, and RNG are all above their 50-DMAs and actionable at current levels.

Market View

Posted on December 1, 2017October 17, 2019 by Raj Gupta

Market Overview
The U.S. market remains in a Confirmed Uptrend. The S&P 500 and Nasdaq continue to diverge with Technol-ogy coming under severe selling pressure this week. Multiple leading ideas in the sector have now broken short-term support levels and will likely go through a period of consolidation before a recovery takes place. Though weakness in Technology persisted through the end of the week, Consumer Cyclical, Financial, Transportation, and Retail are still trading at or near new highs as rotation into value continues. A further rise in distribution that takes the major averages below their respective 50-DMAs will result in a downgrade of the U.S. market.
Stocks on our U.S. Focus List—Current Sentiment

Our USFL of 72 ideas (two net removals) lost 2.2% on average this week, underperforming the S&P 500 (+1.5%) and the Nasdaq (-0.6%).

By Sector
Technology ideas on the U.S Focus List are pulling back to price and moving average support. Semiconductors, in particular, took the brunt of the selling. AMAT, CY, MCHP, MPWR, NVDA, and SWKS all broke their respective 50-DMAs. Software ideas also sold off with ATVI, NOW, PAYC, and QTWO all breaking their 50-DMAs. Finan-cial ideas on our Focus List came under accumulation. ESNT, MS, SCHW, SIVB, VNTV, and WAL are all now trading at all-time highs. Building-related ideas across multiple sectors are also acting well. EXP, HD, and PHM are hitting new highs.

Market View

Posted on November 24, 2017October 17, 2019 by Raj Gupta

Market Overview
The U.S. market is in a Confirmed Uptrend. The major averages continue to push into new highs with healthy action across leading ideas. Distribution stands at five days on both the S&P 500 and Nasdaq, with multiple days set to expire next week. We maintain our positive view on the general market.
Stocks on our U.S. Focus List—Current Sentiment

By Sector
Technology ideas on the U.S Focus List continue to outperform. Ten Technology ideas, including EXTR, GRUB, OLED, MB, PAYC, and CY, gained more than 3% week-over-week. Retail ideas were also under accumulation with AMZN, BABA, HD, and OLLI all moving back into new highs. Though all sectors moved higher, Financial ideas on our Focus List traded mostly sideways. MS, SIVB, and WAL are all consolidating constructively, while FRC remains under pressure.
New Ideas or Deletions

Market View

Posted on November 17, 2017November 23, 2017 by Raj Gupta

The U.S. market is in a Confirmed Uptrend. Indices, led by the Nasdaq, rallied back into all-timehighs. Alt-hough the distribution day count increased to six on the Nasdaq and fiveon the S&P, price action across leader-ship ideas remains constructive. We will become more cautiousif distribution remains elevated as indi-ces/leading stocks fall below key support levels.

Stocks on our U.S. Focus List—Current SentimentOur USFL of 73 ideas (no net change)gained 1.6% on averagethis week, outperforming the S&P 500(-0.1%) and the Nasdaq (0.5%).

By Sector

Technology ideas on the U.S Focus List continue to outperform. EXTRand WBrose over 10% after reporting good results last week. EXTRis buyable. ALRMregained its 100-DMA on strong volume but remains below its 50-DMA and is poised to consolidate. Consumer Staple outperformed, led by heavy accumulation in BUFFand MNST. Within Financial, payment processors including PYPLcontinue totrend higher.

Market View

Posted on November 10, 2017November 22, 2017 by Raj Gupta

The U.S. market is in a Confirmed Uptrend. Though distribution rose this week to two and five days on the S&P 500 and Nasdaq, respectively, each index continues to hold short-term support at the 21-DMA. Leadership also remains healthy with 80% of the U.S. Focus List still trading above the 50-DMA and 60% within 5% of a new high. We will become more cautious should we see a further rise in distribution that takes the major averages below their respective 21-DMAs. Stocks on our U.S. Focus List—Current Sentiment Our USFL of 73 ideas (two net additions) was flat this week, outperforming the S&P 500 (-0.2%) and the Nasdaq (-0.2%). By Sector Despite the pullback in Technology this week, most Technology ideas on the U.S. Focus List responded well to earnings. WB, OLED, TTWO, CY, RNG, and NVDA all moved into new highs. Conversely, ALRM, TYL, and ZAYO broke their respective 50-DMAs. Outside of Technology, MNST and PLNT both moved into new highs post earnings. Health Care continues to be under pressure. PRAH broke its 50-DMA following poor earnings results from peers. VRTX also continues to live below its 50-DMA due to a weakening biotech industry group. Only 8% of our U.S. Focus List is made up of Health Care ideas after multiple ideas have been removed the last few weeks.

Global Sector Commentary

Posted on November 10, 2017March 27, 2019 by Kenley Scott

Twenty-two developed markets fell 0.9% on average, breaking a string of seven consecutive weekly gains. Twenty-one are in a Confirmed Uptrend (including three Under Pressure).

Market View

Posted on November 3, 2017November 22, 2017 by Raj Gupta

Market Overview
The U.S. market is in a Confirmed Uptrend. Indices tacked on small gains this week and continue to trend high-er along their 21-DMAs as distribution remains low. Earnings season has been strong for the USFL with the ma-jority of ideas reporting better-than-expected results. We remain positive on the general market as we head into the final weeks of earnings season.
Stocks on our U.S. Focus List—Current Sentiment
Our USFL of 71 ideas (no net change) gained 0.9% on average this week, outperforming the S&P 500 (0.2%) and relatively in-line with the Nasdaq (0.9%).

By Sector
Earnings season continues to very good for USFL stocks, with many gapping up on better-than-expected results. Under the radar, TNET, gapped-up +15% after reporting an EPS surprise of over 124%. OLED, WING, and sur-prisingly EL jumped higher after exceeding expectations. Although FB and BABA pulled back slightly, both re-main buyable after reporting outstanding quarterly results. ADBE gapped up three weeks ago and continues to hit new highs, while TEAM is trading in a tight range and poised to follow in a similar fashion.

Market View

Posted on October 27, 2017November 3, 2017 by Raj Gupta

Market Overview
The U.S. market is in a Confirmed Uptrend. The S&P 500 and Nasdaq moved back into new highs Friday after finding support around their respective 21-DMAs. Distribution days remain low with one on the S&P 500 and three on the Nasdaq. Leadership also remains strong with the majority of ideas continuing into new highs post earnings results. We remain positive on the general market.
Stocks on our U.S. Focus List—Current Sentiment
Our USFL of 71 ideas (two net additions) gained 0.9% on average this week, outperforming the S&P 500 (0.2%) and in-line with the Nasdaq (1.1%).

By Sector
Strength across the USFL came primarily from Technology for a second straight week. GOOGL, GRUB, and LOGM all broke out post earnings. MPWR and CY also moved into all-time highs following earnings. Converse-ly, Health Care came under heavy pressure due to Biotechs selling off after their respective earnings results. ALXN and BIVV both reported numbers ahead of consensus, but still sold off below their respective 50-DMAs. VRTX also put in a big beat-and-raise quarter, but also sold off before recovering on Friday. On the opposite