The leadership had another very good week, with only a handful of declining stocks. There was only one really big gainer, which was
USHS, a stock that has become a runaway train, This is setting up to test my system of "pivot point projections", as it is approaching the target price projected by two prior pivots. It is not a system I take very seriously, but it does seem to work often enough to get my attention, This is seeing absurdly high relative volume and is probably on the verge of some pretty serious volatility.
RGR was the second biggest gainer. This one hit the target that the prior pivot points prjected for it, the pulled back, and reversed on Monday and has now slightly passed that target. This is one of the few leading stocks that actually leading: the price relative line here is quite strong.
GILD was the biggest decliner, and it all came on one day, coming on drug news. This had been one of the stocks that, out of the blue, started leading the market rally in early January, going into a relentless and powerful up trend. It was forming a bullish consolidation after a gap up when this happened. This illustrates the danger of buying extended stocks: they have a lot farther to drop,
LSCC was the second biggest decliner. Normally the second biggest decliner has the most bullish chart, and will this mahy be teh "most bullish", I would not call it bullish. This has long term declines both in price relative and CMF, and while it might have a good week coming off this latest pullback, I don't see much chance of this reallyh leading the market up.
