Sample – Weekly Trend Report 8/02/20

Sunday, August 2, 2020

$SPX          3271.12    +1.73%
$NDX       1095.88   +4.03%
10-year UST   .536    -.053
Gold            1985.90  +4.66%
WTI oil          40.27   -2.47%

Weekly Video:


– $SPX closed at an all-time monthly closing high, and the highest weekly close since mid-February.
– $NDX closed at all time monthly and weekly closing highs.
– Gold made a new all-time high at 2005.40, and closed at all-time weekly and monthly closing highs.
– VIX made it’s lowest weekly close since mid-February
– Corporate earnings for the most part came in very strong, especially in the large cap tech leaders, and the overall market reaction was higher prices.
– Markets have been steadily trending higher, but we continue to expect volatility through earnings and healthcare/political news.

Market internals:
$NYMO       -13.18  constructive, just below neutral
$VIX             24.46, still elevated historically, trending down intermediate term
$CPC P/C        .82, just below neutral


1. Technology

– QQQ was +4.00% on the week, and SMH was +4.24%, a new all-time high.

– Technology is still our top ranked sector, and we have the sector rated buyable and on pullbacks.

– Mega cap tech and internet:  Mega cap leaders AAPL, AMZN, FB and PYPL reported very strong earnings and as a result the stock prices rose, with AAPL, FB and PYPL making new all-time highs. AAPL also announced a 4:1 stock split, which seemed to benefit as well. The GOOGL earnings report as not as well received, and the stock traded lower afterwards. This group overall continues to be in strong uptrends. ADBE, NFLX and TSLA are also setting up well on their charts, although TSLA is a more volatile chart.

– Cloud software: SHOP reported strong earnings, was up 10% on the week and made a new all-time high. WCLD is holding the 50-sma level, and was up on the week and CRWD, DDOG and others in the group held their 20 or 50-sma tests. This is a volatile group, with many reporting earnings this week, but continues to trend higher.  AYX, COUP, CRM, CRWD, DDOG, DT, NET, NOW, OKTA, SHOP, SQ, TWLO, TTD and ZM are top longer-term ideas. Many report earnings this week.

– Online gaming: One of the steadier uptrends, ATVI, EA, TTWO, are trending higher, as is ESPO. In Asia, BILI and SE are also top ideas.

– 5G earnings have come in with positive market reactions and QCOM broke out to a new high. QCOM, CIEN, ERIC, SWKS are technical leaders here, and NOK and CSCO are improving.

– Semis, AMD, LRCX, NVDA and TSM are top ranked ideas. AVGO is also setting up well technically.

2. Precious Metals

– Gold was+4.66%, a new all-time high and GDX was +2.65% on the week.
– The overview for the precious metals space stays the same from last week. Buyable and on pullbacks, volatile in a longer term uptrend.
– Precious metals had a very strong week, with Gold, Silver and GDX all high on the week.
– Gold made all-time highs this week, trading at over $2,000 for the first time ever.
– Gold and many miners are breaking out of strong price bases, and some miners had a technical pullback last week.
– This is also a very volatile group, and subject to wide price swings, but the group across the board is rated buyable and on pullbacks.
– Trying to time the exact pullback low can be difficult, but as a guideline a 3-5% pullback in strong uptrends is constructive, although more volatile names can see 10% pullbacks, or more.
– GDX GDXJ GLD SIL and SLV are in uptrends, but also volatile, especially SLV.
– AU, GOLD, NEM, PAAS, and WPM are our top ranked stocks in the group.

3. China Internet

– KWEB was +3.96% on the week, reclaimed the 20-sma and did not test the 50-sma on this recent pullback, constructive signs.
– We expect this group to stay in the news for the time being, which is often a cause for higher volatility.
– From a technical perspective, there are very strong charts in the group in intermediate to longer term uptrends.
– BABA is constructive here on the 20-sma.
– BABA and TCEHY are the mega cap leaders. After that JD, NTES, PDD, SE and VIPS are in uptrends, but could be volatile based on news flow.
– JD and PDD both held their 50-sma test, and PDD cleared the $87.50 breakout level.
– SE held the key $100 level that we outlined, as has resumed it’s uptrend as well.
– For those more focused on this space, BILI is a higher volatility name that is also constructive here and over the 50-sma. Over $45 cold signal a new leg higher.

4. Cyclicals
– The cyclicals over the 200-sma continue their steady uptrends and this group is very constructive.
– Many reported earnings last week, and for the most part the group is trending higher.
– Home construction, trucking, rails and industrial metals have been leading.
– These are economically sensitive industries, and their leadership is considered technically bullish for the overall market.
– CARR, DE, FAST, FCX, ITW, ODFL, OTIS, PCAR, RIO, SCCO, SWK, and VALE are in technical uptrends.
– Many energy names are trending lower, as are airlines and BA, and we are still avoiding the cyclicals below the 200-day moving average.

5. Healthcare
– Healthcare continues to trend higher, but has pharma and biotech have been under pressure recently.
– IBB came off the focus list this week, for now, and we will monitor it for a recovery move.
– The industries outside of pharma have been outperforming, especially diagnostics, supplies, and healthcare IT.
– ABMD, DXCM, LVGO, TDOC and VEEV are top ranked charts outside of pharma.
– ABBV, LLY and VRTX have been weaker recently and we ae monitoring the group.

This week’s entire Best Ideas list and rankings, with names of interest, can be seen here:


(data removed for sample report)
$SPX closed near the high for the week, and at the highest weekly close since mid-February. $SPX is in a primary uptrend above the rising 10 and 40-week moving averages. 3000 and – 3150 are near term support levels on any pullbacks. 


$NDX made a new weekly closing high and is the strongest major index uptrend that we track. 10300 and 10000 are key levels on any pullbacks.

Treasury yields are still in a downtrend, UST bonds are in an uptrend. No positions here.


Gold is in a very strong uptrend, and made new all-time highs. On any potential pullbacks 1800 and 1900 are key support levels.


Crude oil is in a weekly uptrend and 35 and 37 are key support levels on any pullbacks.


This Week’s Best Ideas List Page:

(data removed for sample report)

(data removed for sample report)


– $SPX and $NDX made new all-time monthly closing highs on Friday.
– $SPX is continuing to drift higher, and $NDX had a strong week.
– For the most part, large cap and mega cap tech earnings came in very good, and market reaction was mostly higher.
– $SPX is constructive here and over 3000.
– $NDX is the strongest major index that we track.
– The DJIA and Small caps are also holding above their 200-sma currently.
– VIX is trending lower, but volatility is still high, earnings season is still in progress, and political and healthcare headlines could continue to add volatility.
– We are maintaining our long positioning here, in the strongest focus groups in uptrends, and have raised stops along the way.
– Volatility is still high, so market pullbacks can be expected at any time, but the trends are higher, and market internals at not at overbought levels.
– Precious metals continue to break out, and this is a highly ranked group as well.
– We are continuing to avoid downtrends and stocks below the 200-day moving average, with energy and some cyclicals breaking down there.


Have a great week,

Larry Tentarelli



(data removed for sample report)



S & P 500                  $SPX 3271.12 55.49 1.73 U Y
Nasdaq 100            $NDX 10905.88 422.75 4.03 U Y
Dow Industrials 26428.32 -41.57 -.16 U Y
10-year UST Yields .536 -.053 -2.47 D N
WTI Crude Oil 40.27 -1.02 4.66 U Y
Gold 1985.90 88.40 U Y
SPY 326.52 5.64 1.76 U Y
QQQ 265.79 10.23 4.00 U Y
EEM 43.29 .15 .35 U Y
VGK 52.17 -.85 -1.60 U Y
GLD 185.43 6.73 3.77 U Y
GDX 42.94 1.11 2.65 U Y
TLT 171.00 1.26 .74 U Y


 Additional charts covered in today’s video








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