Discussion
The Dow is down 500+ points this morning but there's a sea change afoot. Market leaders are getting a bid, which means Stock PRO is virtually flat on the day, Options PRO is up, Index PRO is coming back and there's an overall rush to QUALITY. This is what the market has been lacking for several weeks, which could mean the engine (which has been on idle) is actually revving up, even though it's a big selloff day. On that note, here's 3 investment ideas of stocks that are outperforming on an otherwise horrible no good very bad day in the market. Amazon is looking strong after a couple weeks of selling off. That big green candle on the right is climbing back up the cliff where it fell from $3500 and continuation UP looks promising. Any type of engulfing candle, where one candle overtakes or pierces an earlier day means there's a good change the trend is reversing. Palantir reported excellent earnings numbers and is about to jump through its falling wedge pattern and this is big. Falling wedges are reversal patterns and if #PLTR can get legs up and through the upper line, there's only blue sky above. And finally, Activision Blizzard is trending higher and breaking out of a long-term symmetrical triangle. This pattern is very bullish for this gaming leader as it tries to retake $100 and above. The caveat to these stocks is if the overall market continues to sell off, everything will go down. But even in corrections, there are bright spots and we want to be able to find these gems so when there is a reversal, we're ready. Disclosure: #AMZN is a Stock PRO holding, #PLTR is a Mashups holding and we hold no position in #ATVI...yet.
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