Today in Stocks — June 21 — Stocks to Watch

Stocks rally but bonds still looking scary…

Market Overview

New 52 Week Highs — 31
New 52 Week Lows — 231

Up Today — 4226
Down Today — 1667

Above 20 Day — 1405
Below 20 Day — 4737

Above 50 Day — 1141
Below 50 Day — 5001

Above 200 Day — 985
Below 200 Day — 5157

Indexes

Indexes moved up closely together today with $SPY up 2.52%. $IWM trailed up 1.79% and $BTC was up significantly more earlier has fallen back some, currently up 0.93%.

Volume was a bit below average but not too low.

Bonds ($TLT) finished down 1.7%.

If bonds go another 1.8% down we may break the current low point and go lower, which could signal more pain ahead for the economy and potentially the market as well. Bonds are in unprecedented territory right now.

A nice up day in the market today. If we get another strong up day, or we can stay relatively flat and break up further in the next week or so, this could follow through to a nice rally.

I am looking out for a few potential stocks that make sense to buy if we get an up day. The rally in the market seems to be from

Sectors

All tech sectors moved up today, looking at forming a potential bottom here.

Biotech (XBI) had a strong rally today as well. Looking to see if this holds into a new uptrend.

Energy and Oil & Gas rallied as well.

Rallies across almost the entire market.

Bonds and Yields

Some slight steepening but not much movement from yields. 10Y-02Y still very near inverting.

Commodities

Wheat, corn, and soybeans had a down day today with wheat and soybeans around current support. We will see if they break down through this support and potentially start a new trend.

Forex

Japanese Yen with another day of weakness against the dollar. It’s been going up for a year and a half with no signs of slowing. The move does look a bit extended though which could be a potential blowoff top?

Stocks to Watch

Super Micro Computer (SMCI)

A chart of SMCI will show that this stock has basically been all over the place leaving very little room for strong buy points with low risk.

However, with the strong current earnings, strong future earnings, and the relative strength this has been showing during this bear market, I anticipate SMCI could form a strong setup and potentially blast off when this bear market turns.

Sysco Corporation (SYY)

This is stock has been building a strong base for over a year. It has strong earnings, sales, and projections.

I am watching this closely to see if we get a change in character in this chart movement and a strong move out of this base.

Grid Dynamics (GDYN)

Grid Dynamics is also starting to build the right side of its base. Looking for a consolidation and break around the 200 day as an entry point.

Celsius Holdings (CELH)

Celsius Holdings is also a stronger looking stock with a bright projected future. Looking for some action around the 200 day to get in.

That’s what I got, a few more to add to the list. What stocks are you watching?

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