The market is down .6% today, which may not sound like a lot, but is the biggest down day the market has seen in quite some time. This makes the down move seem more significant. Case in point, only 26 of the 117 stocks on my “alpha watchlist” are green today, and many socks that were putting in strong patterns are seeing those patterns invalidated.
On days like today, even if I’m not looking to make a trade, I track stocks showing relative strength. These are stocks that are bucking the market trend and showing positivity.
I talked about this in a quickie twitter video. In it I discuss how and why we monitor relative strength, and go over four examples of relative strength stocks.
— Paul J. Singh (@PaulJSingh) December 2, 2019