Weekly Watch List


BIDU
LULU
MELI
ISRG
NETL
SHOO
CTSH
HLF
EL
HSP

Additions:
ISRG

Subtractions:
None.

Last week, four straight days of gains were wiped out by Friday’s heavy volume plunge. For the week, the NYSE composite lost 1.5%, the S&P 500 gave up 1.2%, the Dow retreated 1%, and the Nasdaq backed off 0.8%. Although Friday was the first distribution day since the current uptrend started on July 7th, it was particularly vicious and applied to all four indexes. Still, the IBD outlook remains at “market in confirmed uptrend”. It’s okay to make new purchases, but make sure they’re top stocks, in a proper buy range.

This week, CTSH, is still near a proper buy point. CTSH, trading at $52.63, is in what is now being classified as a base on base pattern with a buy point of $54.91. Wait for it to rise above the buy point on above average volume before you consider buying the stock.

/as usual, your mileage may vary, always do your own homework

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