Chest Pounding

Quick Take: Buy Bias. The train rolls until it doesn’t.

The sound of the bull pounding his chest in victory sure sounds like a signal for a top being put in. 

For The Week:

INDEX CLOSE% CHANGEYTD %
DJIA28653.872.60.4
Nasdaq11695.633.430.3
S&P 5003508.013.38.6
Russell 20001578.341.7-5.4

The S&P 500 and Nasdaq set record highs as the notched in five consecutive weeks of gains. And the Dow Jones Industrial Average turned positive for the year. 

Bullishness feels to be at an extreme. The market will put in some type of top at some point, when, and how long it lasts is anyone’s guess. 

The market headline of the week was with Fed Chair Powell who said the central bank would allow inflation to run moderately beyond 2.0% over time to make up for time when it ran below this mark.

The Nasdaq’s 30% gain for the year jives with the stay at home trends its technology leaders accommodate.

This has been a growth stock nirvana like this author hasn’t seen since 2000.  

Salesforce (CRM) gained 30% this week, with a bulk of those gains coming after its earnings report. 

On Monday the Dow will add Salesforce, Amgen (AMGN), and Honeywell (HON), which will replace Exxon Mobil (XOM), Pfizer (PFE), and Raytheon Technologies (RTX) prior to Monday’s open. 

LEADERSHIP

Tech remains the major pull. 

Facebook (FB, +9.98%), Apple (AAPL, +0.35%) Amazon (AMZN, +.09%), Netflix (NFLX, +3.56%) Google (GOOG, +4.05%) Microsoft (MSFT, +7.46%) 

Biotech continues to pull back as it tests a five year base breakout.

Gold is also in pullback mode.  

SECTOR ACTION

SYMBOLNAMEWEEKLY % CHG
XLCCommunication Services Sector Fund4.63
XLKTechnology Sector Fund4.43
XLFFinancial Sector Fund4.32
XLBMaterials Sector Fund3.36
XLIIndustrial Sector Fund3.06
XLYConsumer Discretionary Sector Fund2.98
XLPConsumer Staples Sector Fund2.29
XLREReal Estate Sector Fund1.87
XLEEnergy Sector Fund1.14
XLVHealth Care Sector Fund1.1
XLUUtilities Sector Fund-0.59

TECHNICALLY SPEAKING

  • NYSE volume was up 6% from last week as advancing outpaced declining by nearly 2 to 1. 
  • Nasdaq volume was slightly off las week’s pace, with a 1.5, advance/decline ratio. 
  • NYSE advancing issues held a solid edge of decliners by a 2.1 ratio.
  • Nasdaq advancing issues held a 1.5 edge over decliners.

Accumulation/Distribution Days For The Last Month:

  • S&P 500: 7/2
  • Nasdaq: 3/4
  • Dow: 5/5

PLEASE REFER TO THE GROWTH STOCK REPORT FOR INDIVIDUAL NAMES. 

Play it nice,

Dan

GSRTrades August 16, 2020

TickerCompany NameIndustryPATTERN
ADCAgree Realty CorporationReal Estate Investment TrustsBASE
AEISAdvanced Energy Industries, Inc.Electronic Production EquipmentBASE
ALBOAlbireo Pharma, Inc.Pharmaceuticals: OtherBASE
AMEHApollo Medical Holdings, Inc.Services to the Health IndustryBASE
AMZNAmazon.com, Inc.Internet RetailBASE
APPFAppFolio Inc Class AInformation Technology ServicesBASE
APTAlpha Pro Tech, Ltd.Medical SpecialtiesBASE
AXNXAxonics Modulation Technologies, Inc.Medical SpecialtiesBASE
BMYBristol-Myers Squibb CompanyPharmaceuticals: MajorBASE
BPMCBlueprint Medicines Corp.BiotechnologyBASE
CDNACareDx, Inc.Medical SpecialtiesBASE
CGCarlyle Group IncInvestment ManagersBASE
CHCTCommunity Healthcare Trust, Inc.Real Estate Investment TrustsBASE
CHRSCoherus BioSciences, Inc.BiotechnologyBASE
CNCCentene CorporationManaged Health CareBASE
CRMsalesforce.com, inc.Packaged SoftwareBASE
DXCMDexCom, Inc.Medical SpecialtiesBASE
ESGREnstar Group LimitedInsurance Brokers/ServicesBASE
FATEFate Therapeutics, Inc.BiotechnologyBASE
FBCFlagstar Bancorp, Inc.Financial ConglomeratesBASE
FISFidelity National Information Services, Inc.Data Processing ServicesBASE
FORForestar Group Inc.Real Estate DevelopmentBASE
GMREGlobal Medical REIT IncReal Estate Investment TrustsBASE
HIHillenbrand, Inc.Industrial ConglomeratesBASE
ICHRIchor Holdings, Ltd.SemiconductorsBASE
INSMInsmed IncorporatedBiotechnologyBASE
KWRQuaker Chemical CorporationChemicals: SpecialtyBASE
MBINMerchants BancorpRegional BanksBASE
MKTXMarketAxess Holdings Inc.Investment Banks/BrokersBASE
NOWServiceNow, Inc.Information Technology ServicesBASE
NVEENV5 Global IncMiscellaneous Commercial ServicesBASE
ONTOOnto Innovation, Inc.Electronic Production EquipmentBASE
OSBNorbord Inc.Forest ProductsBASE
PIPRPiper Sandler CompaniesInvestment Banks/BrokersBASE
PJTPJT Partners, Inc. Class AInvestment Banks/BrokersBASE
PODDInsulet CorporationMedical SpecialtiesBASE
RILYB. Riley Financial, Inc.Investment Banks/BrokersBASE
RNGRingCentral, Inc. Class APackaged SoftwareBASE
RNRRenaissanceRe Holdings Ltd.Property/Casualty InsuranceBASE
ROKURoku, Inc. Class AElectronics/AppliancesBASE
RPDRapid7 Inc.Information Technology ServicesBASE
SINASINA Corp.Internet Software/ServicesBASE
SMPLSimply Good Foods CoFood: Major DiversifiedBASE
STRLSterling Construction Company, Inc.Engineering & ConstructionBASE
AAXNAxon Enterprise IncAerospace & DefenseBD
ACADACADIA Pharmaceuticals Inc.BiotechnologyBD
AGIOAgios Pharmaceuticals, Inc.BiotechnologyBD
ALNYAlnylam Pharmaceuticals, IncBiotechnologyBD
ARVNArvinas, Inc.BiotechnologyBD
ASMBAssembly Biosciences, Inc.Pharmaceuticals: OtherBD
CODXCo-Diagnostics, Inc.BiotechnologyBD
COHNCohen & Company IncFinancial ConglomeratesBD
DRNADicerna Pharmaceuticals, Inc.BiotechnologyBD
DTDynatrace, Inc.Packaged SoftwareBD
EHTHeHealth, Inc.Life/Health InsuranceBD
ESPREsperion Therapeutics, Inc.BiotechnologyBD
EVEREverQuote, Inc. Class AInternet Software/ServicesBD
EXASExact Sciences CorporationBiotechnologyBD
HARPHarpoon Therapeutics, Inc.BiotechnologyBD
IIVIII-VI IncorporatedElectronic Equipment/InstrumentsBD
IPHIInphi CorporationSemiconductorsBD
KPTIKaryopharm Therapeutics, Inc.BiotechnologyBD
LAKELakeland Industries, Inc.Industrial SpecialtiesBD
MDBMongoDB, Inc. Class APackaged SoftwareBD
MGNXMacroGenics, Inc.BiotechnologyBD
NBIXNeurocrine Biosciences, Inc.BiotechnologyBD
NKTRNektar TherapeuticsPharmaceuticals: MajorBD
PTGXProtagonist Therapeutics, Inc.BiotechnologyBD
SMARSmartsheet, Inc. Class APackaged SoftwareBD
UPLDUpland Software, Inc.Information Technology ServicesBD
VAPOVapotherm, Inc.Medical SpecialtiesBD
VIRTVirtu Financial, Inc. Class AInvestment Banks/BrokersBD
XLRNAcceleron Pharma IncBiotechnologyBD
ZYXIZynex, Inc.Medical SpecialtiesBD
ABCBAmeris BancorpRegional BanksL-BASE
ALTMAltus Midstream Co. Class AOil & Gas PipelinesL-BASE
AUBAtlantic Union Bankshares CorporationRegional BanksL-BASE
BAMBrookfield Asset Management Inc. Class AInvestment ManagersL-BASE
BLUEbluebird bio, Inc.BiotechnologyL-BASE
BYNDBeyond Meat, Inc.Food: Major DiversifiedL-BASE
CCXIChemocentryx, Inc.BiotechnologyL-BASE
CFBKCF Bankshares IncSavings BanksL-BASE
CINFCincinnati Financial CorporationProperty/Casualty InsuranceL-BASE
CNQCanadian Natural Resources LimitedOil & Gas ProductionL-BASE
CNXCNX Resources CorporationIntegrated OilL-BASE
CUZCousins Properties IncorporatedReal Estate Investment TrustsL-BASE
DMTKDermTech, Inc.Medical SpecialtiesL-BASE
EBMTEagle Bancorp Montana, Inc.Regional BanksL-BASE
ECOLUS Ecology, Inc.Environmental ServicesL-BASE
EFSCEnterprise Financial Services CorpRegional BanksL-BASE
EGHT8×8, Inc.Packaged SoftwareL-BASE
ESTCElastic NVPackaged SoftwareL-BASE
EVBGEverbridge, Inc.Packaged SoftwareL-BASE
FBMSFirst Bancshares, Inc.Major BanksL-BASE
FISVFiserv, Inc.Data Processing ServicesL-BASE
FSFGFirst Savings Financial Group, Inc.Regional BanksL-BASE
GBDCGolub Capital BDC, Inc.Investment ManagersL-BASE
GPNGlobal Payments Inc.Data Processing ServicesL-BASE
HESMHess Midstream LP Class AIntegrated OilL-BASE
HQYHealthEquity IncInvestment ManagersL-BASE
INSWInternational Seaways, Inc.Marine ShippingL-BASE
KNOPKNOT Offshore Partners LPMarine ShippingL-BASE
LHXL3Harris Technologies IncAerospace & DefenseL-BASE
MCBMetropolitan Bank Holding Corp.Major BanksL-BASE
MEOHMethanex CorporationChemicals: SpecialtyL-BASE
MKLMarkel CorporationSpecialty InsuranceL-BASE
MNRLBrigham Minerals, Inc. Class AInvestment Trusts/Mutual FundsL-BASE
MOFGMidWestOne Financial Group, Inc.Regional BanksL-BASE
MPWMedical Properties Trust, Inc.Real Estate Investment TrustsL-BASE
MSONMisonix IncMedical SpecialtiesL-BASE
MVBFMVB Financial Corp.Regional BanksL-BASE
NEWTNewtek Business Services Corp.Miscellaneous Commercial ServicesL-BASE
NTLAIntellia Therapeutics, Inc.BiotechnologyL-BASE
NTRNutrien Ltd.Chemicals: AgriculturalL-BASE
NVCRNovoCure Ltd.Medical SpecialtiesL-BASE
NXSTNexstar Media Group, Inc. Class ABroadcastingL-BASE
OPCHOption Care Health IncMedical/Nursing ServicesL-BASE
ORRFOrrstown Financial Services, Inc.Regional BanksL-BASE
PBProsperity Bancshares, Inc.(R)Regional BanksL-BASE
PBAPembina Pipeline CorporationOil & Gas PipelinesL-BASE
PFGCPerformance Food Group CompanyFood DistributorsL-BASE
PLANAnaplan, Inc.Packaged SoftwareL-BASE
PLYMPlymouth Industrial REIT, Inc.Real Estate Investment TrustsL-BASE
PWPower REITReal Estate Investment TrustsL-BASE
RBNCReliant Bancorp IncRegional BanksL-BASE
RCIRogers Communications Inc. Class BWireless TelecommunicationsL-BASE
SAFESafehold Inc.Real Estate Investment TrustsL-BASE
SBGISinclair Broadcast Group, Inc. Class ABroadcastingL-BASE
SNVSynovus Financial Corp.Regional BanksL-BASE
UBOHUnited Bancshares, Inc.Regional BanksL-BASE
VCTRVictory Capital Holdings, Inc. Class AInvestment ManagersL-BASE
VTOLBristow Group IncOther TransportationL-BASE
WBWeibo Corp Sponsored ADR Class AInternet Software/ServicesL-BASE
WORKSlack Technologies, Inc. Class APackaged SoftwareL-BASE
WSBFWaterstone Financial, Inc.Financial ConglomeratesL-BASE
WTRGEssential Utilities, Inc.Water UtilitiesL-BASE
YAlleghany CorporationProperty/Casualty InsuranceL-BASE
ACMRACM Research, Inc. Class AIndustrial MachineryPB
AEYEAudioEye, Inc.Internet Software/ServicesPB
AMDAdvanced Micro Devices, Inc.SemiconductorsPB
APPSDigital Turbine, Inc.Internet Software/ServicesPB
AVLRAvalara IncPackaged SoftwarePB
BANDBandwidth Inc. Class AMiscellaneous Commercial ServicesPB
BLFSBioLife Solutions, Inc.Medical SpecialtiesPB
CELHCelsius Holdings, Inc.Beverages: Non-AlcoholicPB
CEVACEVA, Inc.SemiconductorsPB
CHGGChegg, Inc.Miscellaneous Commercial ServicesPB
CHWYChewy, Inc. Class AInternet RetailPB
COOPMr. Cooper Group, Inc.Finance/Rental/LeasingPB
COUPCoupa Software, Inc.Packaged SoftwarePB
CRWDCrowdStrike Holdings, Inc. Class APackaged SoftwarePB
DOCUDocuSign, Inc.Packaged SoftwarePB
EBSEmergent BioSolutions Inc.BiotechnologyPB
EDITEditas Medicine, Inc.BiotechnologyPB
ETSYEtsy, Inc.Miscellaneous Commercial ServicesPB
FIVNFive9, Inc.Information Technology ServicesPB
FOLDAmicus Therapeutics, Inc.BiotechnologyPB
FRPTFreshpet IncFood: Specialty/CandyPB
FSLYFastly, Inc. Class AInformation Technology ServicesPB
GLOBGlobant SAInformation Technology ServicesPB
GNMKGenMark Diagnostics, Inc.Medical SpecialtiesPB
GRBKGreen Brick Partners, Inc.HomebuildingPB
GRUBGrubhub, Inc.Specialty StoresPB
ICLRICON PlcPharmaceuticals: OtherPB
KNSLKinsale Capital Group, Inc.Multi-Line InsurancePB
LANDGladstone Land Corp.Real Estate Investment TrustsPB
LEUCentrus Energy Corp. Class AOther Metals/MineralsPB
LOVELovesac CompanySpecialty StoresPB
LVGOLivongo Health, Inc.Packaged SoftwarePB
MELIMercadoLibre, Inc.Internet Software/ServicesPB
NVAXNovavax, Inc.BiotechnologyPB
OKTAOkta, Inc. Class APackaged SoftwarePB
OTRKOntrak, Inc.Medical/Nursing ServicesPB
PDPagerDuty, Inc.Packaged SoftwarePB
PFSIPennyMac Financial Services, Inc.Finance/Rental/LeasingPB
PLDPrologis, Inc.Real Estate Investment TrustsPB
PLMRPalomar Holdings, Inc.Property/Casualty InsurancePB
QDELQuidel CorporationMedical SpecialtiesPB
QTWOQ2 Holdings, Inc.Information Technology ServicesPB
RAREUltragenyx Pharmaceutical, Inc.BiotechnologyPB
SAMBoston Beer Company, Inc. Class ABeverages: AlcoholicPB
SGENSeattle Genetics, Inc.BiotechnologyPB
SHOPShopify, Inc. Class AInternet RetailPB
SQSquare, Inc. Class AInformation Technology ServicesPB
SRNESorrento Therapeutics, Inc.BiotechnologyPB
SRPTSarepta Therapeutics, Inc.BiotechnologyPB
TBIOTranslate Bio, Inc.BiotechnologyPB
TDOCTeladoc Health, Inc.Hospital/Nursing ManagementPB
TEAMAtlassian Corp. Plc Class APackaged SoftwarePB
TENBTenable Holdings, Inc.Packaged SoftwarePB
TRUPTrupanion, Inc.Specialty InsurancePB
TWLOTwilio, Inc. Class APackaged SoftwarePB
TWOU2U, Inc.Packaged SoftwarePB
TWSTTwist Bioscience Corp.BiotechnologyPB
VEEVVeeva Systems Inc Class APackaged SoftwarePB
VRTXVertex Pharmaceuticals IncorporatedBiotechnologyPB
WWayfair, Inc. Class AInternet RetailPB
WINGWingstop, Inc.RestaurantsPB
WIXWix.com Ltd.Information Technology ServicesPB
ZZillow Group, Inc. Class CInformation Technology ServicesPB
ZENZendesk, Inc.Data Processing ServicesPB
ZMZoom Video Communications, Inc. Class APackaged SoftwarePB
ZSZscaler, Inc.Packaged SoftwarePB
BERYBerry Global Group IncContainers/PackagingWOW
EXPIeXp World Holdings, Inc.Financial ConglomeratesWOW
FRHCFreedom Holding Corp.Investment Banks/BrokersWOW
FTCHFarfetch Limited Class AInternet Software/ServicesWOW
GRWGGrowGeneration Corp.Wholesale DistributorsWOW
IIPRInnovative Industrial Properties IncReal Estate Investment TrustsWOW
NFENew Fortress Energy Inc Class AEngineering & ConstructionWOW
SILKSilk Road Medical, Inc.Medical SpecialtiesWOW

GSRTrades August 7, 2020

BREAKOUTS

SYMBOLCOMPANYINDUSTRY GROUP
EBSEmergent BioSolutions Inc.Biotechnology
ALNYAlnylam Pharmaceuticals, IncBiotechnology
TWSTTwist Bioscience Corp.Biotechnology
GLOBGlobant SAInformation Technology Services
SQSquare, Inc. Class AInformation Technology Services
FRHCFreedom Holding Corp.Investment Banks/Brokers
FIVNFive9, Inc.Information Technology Services
MKTXMarketAxess Holdings Inc.Investment Banks/Brokers
WWayfair, Inc. Class AInternet Retail
CHWYChewy, Inc. Class AInternet Retail
SHOPShopify, Inc. Class AInternet Retail
AEYEAudioEye, Inc.Internet Software/Services
APPSDigital Turbine, Inc.Internet Software/Services
RILYB. Riley Financial, Inc.Investment Banks/Brokers
MELIMercadoLibre, Inc.Internet Software/Services
IRTCiRhythm Technologies, Inc.Medical Specialties
QDELQuidel CorporationMedical Specialties
GNMKGenMark Diagnostics, Inc.Medical Specialties
OTRKOntrak, Inc.Medical/Nursing Services
NTRANatera, Inc.Medical/Nursing Services
KNSLKinsale Capital Group, Inc.Multi-Line Insurance
BLNKBlink Charging CoOther Consumer Services
CHGGChegg, Inc.Miscellaneous Commercial Services
ETSYEtsy, Inc.Miscellaneous Commercial Services
BANDBandwidth Inc. Class AMiscellaneous Commercial Services
EVHEvolent Health Inc Class AMiscellaneous Commercial Services
BLBlackLine, Inc.Packaged Software
LVGOLivongo Health, Inc.Packaged Software
TENBTenable Holdings, Inc.Packaged Software
TWLOTwilio, Inc. Class APackaged Software
VEEVVeeva Systems Inc Class APackaged Software
CRMsalesforce.com, inc.Packaged Software
DOCUDocuSign, Inc.Packaged Software
TWOU2U, Inc.Packaged Software
ZSZscaler, Inc.Packaged Software
AMDAdvanced Micro Devices, Inc.Semiconductors
IPHIInphi CorporationSemiconductors
PSNLPersonalis, Inc.Biotechnology
QTWOQ2 Holdings, Inc.Information Technology Services
ZZillow Group, Inc. Class CInformation Technology Services
FTCHFarfetch Limited Class AInternet Software/Services
BMYBristol-Myers Squibb CompanyPharmaceuticals: Major
ASMBAssembly Biosciences, Inc.Pharmaceuticals: Other
PAASPan American Silver Corp.Precious Metals
PLMRPalomar Holdings, Inc.Property/Casualty Insurance
LANDGladstone Land Corp.Real Estate Investment Trusts
PWPower REITReal Estate Investment Trusts
SAFESafehold Inc.Real Estate Investment Trusts
WINGWingstop, Inc.Restaurants
AXNXAxonics Modulation Technologies, Inc.Medical Specialties
SILKSilk Road Medical, Inc.Medical Specialties
TRUPTrupanion, Inc.Specialty Insurance
LOVELovesac CompanySpecialty Stores
AAXNAxon Enterprise IncAerospace & Defense
SWAVShockwave Medical, Inc.Medical Specialties
STNEStoneCo Ltd. Class APackaged Software
RAMPLiveRamp Holdings, Inc.Data Processing Services
SGENSeattle Genetics, Inc.Biotechnology
VRTXVertex Pharmaceuticals IncorporatedBiotechnology
ACADACADIA Pharmaceuticals Inc.Biotechnology
NBIXNeurocrine Biosciences, Inc.Biotechnology
FSLYFastly, Inc. Class AInformation Technology Services
EVEREverQuote, Inc. Class AInternet Software/Services
BERYBerry Global Group IncContainers/Packaging

BASES

SYMBOLCOMPANYINDUSTRY GROUP
PJTPJT Partners, Inc. Class AInvestment Banks/Brokers
MBINMerchants BancorpRegional Banks
OSBNorbord Inc.Forest Products
MKTXMarketAxess Holdings Inc.Investment Banks/Brokers
RILYB. Riley Financial, Inc.Investment Banks/Brokers
CHCTCommunity Healthcare Trust, Inc.Real Estate Investment Trusts
BLFSBioLife Solutions, Inc.Medical Specialties
ZMZoom Video Communications, Inc. Class APackaged Software
CODXCo-Diagnostics, Inc.Biotechnology
RAREUltragenyx Pharmaceutical, Inc.Biotechnology
AEISAdvanced Energy Industries, Inc.Electronic Production Equipment
LAKELakeland Industries, Inc.Industrial Specialties
NOWServiceNow, Inc.Information Technology Services
AMZNAmazon.com, Inc.Internet Retail
SINASINA Corp.Internet Software/Services
DXCMDexCom, Inc.Medical Specialties
AXDXAccelerate Diagnostics, Inc.Medical Specialties
CSTLCastle Biosciences, Inc.Medical/Nursing Services
COUPCoupa Software, Inc.Packaged Software
DTDynatrace, Inc.Packaged Software
OKTAOkta, Inc. Class APackaged Software
HCATHealth Catalyst, Inc.Packaged Software
PDPagerDuty, Inc.Packaged Software
ICHRIchor Holdings, Ltd.Semiconductors
AMEHApollo Medical Holdings, Inc.Services to the Health Industry
CYRXCryoPort, Inc.Air Freight/Couriers
FATEFate Therapeutics, Inc.Biotechnology
INSMInsmed IncorporatedBiotechnology
MGNXMacroGenics, Inc.Biotechnology
XLRNAcceleron Pharma IncBiotechnology
FOLDAmicus Therapeutics, Inc.Biotechnology
SYRSSyros Pharmaceuticals, Inc.Biotechnology
BPMCBlueprint Medicines Corp.Biotechnology
CHRSCoherus BioSciences, Inc.Biotechnology
KWRQuaker Chemical CorporationChemicals: Specialty
FISFidelity National Information Services, Inc.Data Processing Services
KLACKLA CorporationElectronic Production Equipment
ONTOOnto Innovation, Inc.Electronic Production Equipment
ROKURoku, Inc. Class AElectronics/Appliances
HIHillenbrand, Inc.Industrial Conglomerates
APPFAppFolio Inc Class AInformation Technology Services
RPDRapid7 Inc.Information Technology Services
UPLDUpland Software, Inc.Information Technology Services
CDNACareDx, Inc.Medical Specialties
NVEENV5 Global IncMiscellaneous Commercial Services

Bull Roll

Quick Take: Buy Bias. Growth Stocks continue to breakout and survive.

The Bull keeps rolling as the indexes flirt with new highs. A flood of money and a rebounding economy fuel the charge. 

For The Week:

INDEXCLOSE% CHANGEYTD %
DJIA27433.483.8-3.9
Nasdaq11010.982.522.7
S&P 5003351.282.53.7
Russell 20001569.186.0-5.9

The economy likely bottomed out in April, according to many economists. While these “experts” don’t always get it right, there’s no denying improving data. 

Workers are coming back in action. Nonfarm payrolls added 1.763 million for July. The belief is people returned to old jobs rather than new ones being created.

The unemployment rate has improved to just over 10%, this is an improvement from just over 11% in June. Bu it could take years to get the rate back below the pre-pandemic rate of 4%.

Further positive data came from the ISM report that showed manufacturing activity and non-manufacturing activity continued to expand in July.

Optimism over a vaccine was perpetuated with Novavax (NVAX, +19%) reporting positive results in its trials. The stock was highlighted multiple times here as a growth stock since April.

President Trump called for a shutdown of the China-based TikTok (ByteDance) and WeChat (Tencent Holdings, TCEHY, -1.85%) phone apps in the U.S. unless they found a domestic buyer within 45 days. 

Trump may be angling for China to open its market to fair play for American companies. The possibility also lingers that the apps will be bought by Microsoft, as talk of a deal between the companies continues. 

Look for more efforts to bring production back to the U.S., specifically pharmaceuticals, medical equipment and protective gear. 

America depends on China for about half of its medical supplies. China is the U.S.’s second-largest source of car parts. China is also believed to provide about 60% of all imported electronics, including cell phones. On the other side of the balance China was the fastest-growing market for U.S. exports for fifteen years. 

TECHNICALLY SPEAKING

  • Buy-volume prevails as the NYSE and Nasdaq posted buy/sell ratios of 1.6 and 1.7 respectively. 
  • Total Volume on the NYSE and Nasdaq exchanges matched last week’s.
  • Advances/Declines favored bulls with 3.0 and 2.8 ratios. 
  • New highs were up 12% for the week on the NYSE as it posted 289. The Nasdaq was up 50% at 477. 

LEADERSHIP

Top tech stocks hold their high ground with uptrends above 50-day moving averages. 

Facebook (FB, +5.82%), Apple (AAPL, +4.76%) Amazon (AMZN, +.09%), Netflix (NFLX, +1.20%) Google (GOOG, +0.78%) Microsoft (MSFT, +3.64%) 

Walt Disney (DIS) rocketed 11% after reporting a second quarter profit and strong subscriber numbers for its streaming platform. 

SECTOR ACTION

 SYMBOLNAME% CHG
XLIIndustrial Sector Fund4.74
XLFFinancial Sector Fund3.37
XLEEnergy Sector Fund3.19
XLCCommunication Services Sector Fund3.1
XLKTechnology Sector Fund3
XLYConsumer Discretionary Sector Fund2.47
XLBMaterials Sector Fund2.24
XLPConsumer Staples Sector Fund1.29
XLUUtilities Sector Fund1.08
XLVHealth Care Sector Fund0.83
XLREReal Estate Sector Fund0.66

THE GROWTH STOCK REPORT

Lots of names in Biotech and Medical Devices setting up. 

Click Here For Full Report

Stay safe,

Dan

GSRTrades July 31, 2020

THE GROWTH STOCK REPORT

Buy bias remains. Few opportunities abound. 

BREAKOUTS

SYMBOLNAMEINDUSTRY GROUP
AMDAdvanced Micro Devices, Inc.Semiconductors
APPSDigital Turbine, Inc.Internet Software/Services
BERYBerry Global Group IncContainers/Packaging
COOPMr. Cooper Group, Inc.Finance/Rental/Leasing
FBFacebook, Inc. Class AInternet Software/Services
NOWServiceNow, Inc.Information Technology Services
PFSIPennyMac Financial Services, Inc.Finance/Rental/Leasing
PRPLPurple Innovation, Inc.Miscellaneous

BASES

SYMBOLNAMEINDUSTRY GROUP
DXCMDexCom, Inc.Medical Specialties
ENPHEnphase Energy, Inc.Semiconductors
NEMNewmont CorporationPrecious Metals
RCMR1 RCM IncMiscellaneous Commercial Services
TTDTrade Desk, Inc. Class AAdvertising/Marketing Services