In bear markets, price is the news. In bull markets, news follows price. Currently, earnings surprises continue to follow the direction of the established trend.
Breakouts are still happening all over the place and among different industry groups. Today, many stocks finished below their high of the day, providing clues of a potential market exhaustion for the time-being.
79 new all-time highs among stocks that gained 1% or more: JBHT VIPS CVI FCFS RJF STWD CZZ AME CRAY LSTR CFX …
209 new 52-week highs among stocks that appreciated 1%+. Some of the notable movers include:
- Trucking companies are usually very sensitive to the economic cycle. 9 stocks from the industry hit new 52week highs today: $JBHT $SWFT
- After a long absence, $NFLX is back on the new high-list. It is still far from its all-time high of $300, but it is also far from its low of $50,reached only 4 month ago. When expectations are really low, positive earnings surprises could go a long way.
- Regional banks continue to climb higher: $OZRK $UCBI
- Low-float recent IPOs continue to outperform. Even Manchester United is at all-time highs. Crazy times. $MANU
- Medical instruments and supplies stocks keep clearing new highs: $MR $COO
StockTwits 50 Notables
- Momentum names typically lead the market averages, so it is important to follow the balance of power on the list
- Mixed picture today: four St50 stocks gained 2%+ ($RAX $EBAY $CRAY $ASGN) four fell 2%+ ($EVER $RNF $TSM $QIHU)
- $EBAY cleared new multi-year highs; following through on better than expected earnings report from last week