The broader market is in bounce mode. How long it lasts is any fool’s guess. It’s just like that.
This is where Bulls want to see new leadership take shape. We’re paying special attention to the Russell 2K small cap index as this leader down has also lead the reversal and now faces key technical resistance at the 1110 level. Decisive closes above this level would boast a strong vote for a key achievement for the Bull. But we won’t be surprised to see a failure at the level given the the higher risk associated with small caps and the heightened fear out there. The stock market is long due for a correction, and we just don’t assume we’re putting in a new Bull leg here. Wait for multiple signs of strength for tells. We’re just playing it as it is. The market tells us what to do.
Only a handful of Growth Stock survivors maintain bullish trends against a field of mostly broken chart patterns and severe price deterioration. We’ve taken note of the following from our master list of top stocks. These are what interest us, for better or worse.
| Stock | Company | Note |
|---|---|---|
| ALXN | Alexion Pharmaceuticals | base? |
| ADS | Alliance Data Sys Corp | bounce |
| LEN | Lennar Corp Cl A | breakout |
| WNR | Western Refining Inc | dbl btm |
| LCI | Lannett Company Inc | hs reversal |
| AKRX | Akorn Inc | pb |
| HAIN | Hain Celestial Group | pullback? |
| ESRT | Empire State Rlt Tr Cl A | reits next money flow? |
| PANW | Palo Alto Networks | RS |
| ARUN | Aruba Networks Inc | slaughtered |
| AFSI | Amtrust Financial Svcs | weak |
We’re looking to get long on LEN, high risk setup alert.
Here’s the full run down for stocks possessing top ES and RS:
BASE = Breakout Potential (L/Lower), BO = Breakout, N = No Trend
| Symbol | Company Name | |
|---|---|---|
| ADS | Alliance Data Sys Corp | N |
| AFSI | Amtrust Financial Svcs | BO |
| AKRX | Akorn Inc | N |
| ALXN | Alexion Pharmaceuticals | N |
| AMBA | Ambarella Inc | N |
| ARUN | Aruba Networks Inc | N |
| ATHM | Autohome Inc Cl A Ads | L BASE |
| AVGO | Avago Technologies Ltd | N |
| BIIB | Biogen Idec Inc | N |
| BITA | Bitauto Hldgs Ltd Ads | N |
| BXMT | Blackstone Mortgage Trst | N |
| CAVM | Cavium Inc | N |
| CMGE | China Mobile GamesEntAds | N |
| CRM | Salesforce.Com Inc | N |
| ESRT | Empire State Rlt Tr Cl A | N |
| EVHC | Envision Healthcare Hldg | N |
| GBX | Greenbrier Companies Inc | N |
| GRUB | Grubhub Inc | N |
| GTIV | Gentiva Health Svcs Inc | N |
| HAIN | Hain Celestial Group | N |
| JAZZ | Jazz Pharmaceuticals Plc | N |
| LCI | Lannett Company Inc | N |
| LEN | Lennar Corp Cl A | L BASE |
| LKQ | L K Q Corp | N |
| MOH | Molina Healthcare Inc | N |
| PACW | Pacwest Bancorp | N |
| PANW | Palo Alto Networks | N |
| PKG | Packaging Cp Of America | N |
| SCI | Service Corp Intl | N |
| SHPG | Shire Plc Ads | N |
| SKX | Skechers U S A Inc Cl A | N |
| SNCR | Synchronoss Technologies | N |
| SSYS | Stratasys Ltd | N |
| SWKS | Skyworks Solutions Inc | N |
| TAM | Taminco Corporation | N |
| THRM | Gentherm Inc | N |
| TQNT | Triquint Semiconductor | N |
| VEEV | Veeva Systems Inc Cl A | N |
| VIPS | Vipshop Holdings Ltd Ads | N |
| VRX | Valeant Pharmaceuticals | N |
| WNR | Western Refining Inc | N |
| YY | YY Inc Ads | N |