rossgivens

rossgivens

Am I the only one worried about this? Big divergence between the market rally and percentage of stocks participating in it. This is what the end of 2021 looked like. Another interesting fact: The % of S&P 500 stocks outperforming the index over the prior 1-year period hit a record low last month at 24%. This is the lowest reading since at least 1994.

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Advance Auto Parts is a household name. If you’ve ever changed your own oil or replaced an alternator in the driveway, you are familiar with the company. The weekly chart above outlines a quick stage analysis over the last 3 ½ years. After tripling in price from the 2020 lows to the peak of the 2021 bull market, AAP entered a severe Stage 4 decline. Elevated...

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Crypto stocks are on the move, and Riot Blockchain (RIOT) is setting up for a potential breakout buy here. The stock carries a relative strength rating of 98/100, putting it in the top 2% of stocks based on performance. Crypto and digital payment companies was the top-performing sector over the last 2 months and ranked 2nd over the last 3 months. In other words,...

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TREX looks buyable here as it breaks through the pivot at $69. TREX is a building products company - specifically decking materials. Construction and related stocks have surged the last several weeks after Wall Street interpreted the latest Fed meeting as a pivot away from raising rates. the 10-yr bond yield has fallen 0.50% over the last few weeks and mortgage...

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Novo Nordisk is emerging from a textbook volatility compression pattern (VCP) - the setup made famous by Mark Minervini. Notice the series of progressively shallower pullbacks from left to right as supply has been absorbed by buyers. NVO is a market-leading stock by all accounts. Shares are up 75% over the last twelve months with no signs of slowing down. This is...

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After a deep pullback in August and September, Amphastar is coming back in a big way. Following its early-November earnings report, the stock is up more than 20% in the last few weeks. It has reclaimed all its moving averages and is now consolidation with a pivot at $58. Volume has dried up nicely during this consolidation which is typically a sign the stock is...

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Celsius Holdings, the market-leading energy drink company, looks poised to emerge from a double inside day setup. The stock traded inside Tuesday's range on Wednesday and Friday and remains inside this tight area. A breakout above 55.25 would be the trigger to buy with a low-risk stop loss at 52.10 (5.6% risk). This breakout would coincide with a move through...

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The stock market has a unique ability of embarrassing the greatest number of people. Despite what the general public might believe, bear markets do not end when conditions finally improve. They end at the moment of peak bearishness – when everyone has given up hope and is sure the market is toast. When the final bull throws in the towel... that’s when we get a...

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ROOT is an app-based insurance company offering home, auto, and renters’ insurance in all 50 states. With a market capitalization of just $156MM, it is below the small-cap threshold making this a micro-cap stock. In other words, it's small. But it wasn’t always. The company was worth roughly $6 billion when it IPO’d in 2020 - roughly 400X larger than its current...

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Wayfair is the kind of stock you can make a lot of money on by catching the early move. It has household name recognition, trends well, follows the traditional growth stock stages, and is both large enough to attract institutional investors while still being small enough to deliver triple-digit gains. In 2020, for example, shares surged 1,500% in just over five...

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rossgivens Updated 

2023 has been an incredibly strong year for stocks. The Nasdaq rallied 38% in the first six months for one of the best starts to a year in history. This rally has been primarily led by an AI/tech theme that has been responsible for the bulk of these gains. That part of the rally is likely over, however… at least for now. Every bull market has a “theme” with...

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Talk about a fall from grace… After rallying 460% from May to August, the high-tech automotive finance company fell 57% in a week! The stock was murdered. Yet, even at half off, investors are not enticed to buy. UPST cannot rally – a clear sign that institutions have no interest in the stock. This is Stage 3 action (heavy institutional selling), and I would be...

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Apple has been a top performer all year. The uptrend has been a thing of beauty – steadily marching higher since January. But that ride is over. The stock fell 10% in a week and still failed to attract buyers. It finally broke down last week before reversing higher. But that rally failed. And AAPL is again breaking through short-term support. Traders may...

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NVDA stock has topped. The run is over. And institutions are using Wednesday's earnings beat as a final chance to sell their shares while they can. Over the last 4-6 weeks we have witnessed many of these leading names roll over and retrace beneath their 50-day moving average – a key level that generally supports top stocks through the move higher. Despite the...

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Our job as traders is not to predict. It is not to guess. Our job is to INTERPRET the market action. Apple, at least in my opinion, is showing very obvious signs that the party is over and institutions are dumping the stock. Here is my quick 10-minute analysis of why AAPL is a short here, along with a simple option trade and how you can spot similar setups in the future.

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Archrock provides natural gas equipment, service and maintenance. This is an area of the market I mentioned seeing a lot of strength in over the last few weeks (see Market Leaders are Failing post), and AROC is one of the top performers. The stock came out of a textbook consolidation base last month before climbing 25% in just two weeks. After this parabolic...

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This is the Ethereum ETF. ETHE is showing strength similar to Bitcoin. Notice how ETHE closed below the 21-day exponential moving average (blue line on chart) on August 1st. It came right to previous resistance and bounced hard on high volume the very next day. This is what I want to see – aggressive buyers taking advantage of temporary price drops. I took a...

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GBTC is an exchange traded fund that tracks the movement of Bitcoin. It trades like a stock, so GBTC can be bought in any traditional brokerage account or IRA. You could also buy Bitcoin directly. Personally, I don’t trust a lot of the crypto brokers these days, so this feels like a safer option to me. But the results will be similar either way. Bitcoin has...