SP500 making new High’s, what stocks are leading it? To find the answer for this question, we are going to filter the stocks in the SP500 and find all the stocks that are bullish trending on the higher time frames. The higher time frames will be Daily, Weekly, and Monthly,
Below is the Heatmap table of all the stocks that are trending on the Daily, Weekly, Monthly, Notice the font of the numbers changes from black to other colors. When the number is not black, it means it is over extended. Majority of the daily time frame are over extended but only a few on the monthly time frame.
With a majority of these stocks not over extended on the monthly, there is still a chance for them to go higher. However, a pull back is needed in order to clear the over extended conditions on the daily and weekly.
Since we are making new high’s, we are going to concentrate on these stocks for bullish pull backs. We will be looking for iMTF™ support on Day/Swing and Swing/Long zones.
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