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Lots of good stuff here in CERN.
1. The recent consolidation is generally higher in price than the heaviest volume of the most recent burst.
2. The April consolidation was higher in price than the heaviest volume day of the February burst.
3. EPS & sales accleration; top ratings.
4. RS line is leading price highs
5. June 7 pocket pivot volume has led to higher prices and higher accumulation on June 12
6. Nasdaq Accumulation is beginning to outweigh distribution on a 5 day weighting
7. There are a bunch of stocks that have shown consolidations above rising 50 day moving averages during the ten week correction. So funds haven't really been selling shares of stocks like CERN, VRTX, MLNX, CRUS, ALGN, LKQ, MGAM, WWWW, TDG, TCBI, ALGT, MNST, SXCI. Funds certainly could begin selling these off too, but this list is starting to see some tepid accumulation.
I'm watching it and the others listed as well - I guess anyone who trades this type of system is too. The list of quality names is still that small.
What we are lacking is a good spark. many bases forming out and consolidations tightening up, but without a b/o a cup may morph into a double top, flat bases in hindsight may be churning at the top and double bottoms just the 2nd leg down.Impossible to tell at this point in the game.
There are always the standouts, but we really need to see some larger players willing to step in and buy new highs instead of selling them.
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