The medium-term and short-term trends for the major index ETFs are down, but there are some stocks holding up well over the last two months and I am highlighting ten today. The charts below extend six months with the PPOs in the first indicator window and the price relative in the second indicator window. Many are in downtrends overall, but some are still in long-term uptrends (MCD, NFLX, NVDA). The price relative is the ratio of the stock divided by the S&P 500 SPDR (SPY). This ratio rises when the stock outperforms and several of these stocks have sharply rising price relatives over the last two months. This is mainly because SPY tested its August low and these stocks held well above their August lows. Relative strength over the August-September period could lead to absolute strength if the market bounces and I am watching these ten stocks today.
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Thanks for tuning in and have a good day!
--Arthur Hill CMT
Plan your Trade and Trade your Plan
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