Something I like to do on weekends is just quickly review how the Top 75 largest names in the world are doing. It can give one awareness of which sectors are strong along with how specific industries are doing.
What we have here is a JXM default spreadsheet of tickers by market cap (could be set to anything), sorted from largest to smallest (up to 75). Then ran with downloaded data from Fridays close and eventually re-sorted from strength of price based off last close (strongest look to weakest look).
One could say its our version of relative strength using metrics from 5 to 200 days.
One can see how I use level 2 here – https://jxmfinancial.wordpress.com/2017/05/09/how-i-like-to-use-level-2/
Tonight we look at a few of the visuals
- Top 10 has Technology, Healthcare and the rest are consumer based names
- 50% of the names are things we put in our body, Food, cigs, drinks and drugs
- The 3 tech names are semis and apple
- China and Taiwan slip into the top 10
The top 10 are charted below showing the daily view
Looks strong obviously from its top rank. Power gap with clear trend line support along with all rising MAs.
Higher high into some resistance at the moment. Heavy accumulation bars as price breaks out some
High high breakout followed by quick retest followed by large green candle. NVDA brought this sector back strong
Could still have upside to 75+ off this pattern
Another breakout that can really continue higher
A very gappy name. Not something I tend to like but could be getting ready to flag some and consolidate
Nice gap over that 130-131 level. 150 is a level that could be next in line
Parallel channel shows that price is right in the middle. Longer term could have plenty of upside opportunity
One of the tigher uptrend in the list. MA 200 is a clear level to stay the course
Another parallel channel setup showing potential upside targets with two rising trend lines for dip buying opportuntiy