The most followed indexes - QQQ, SPY, IWM, are still below their 50 and 20-day moving averages but a good number of market leaders are acting constructively - breaking out or setting up for a potential breakout. And since leaders tend to lead the indexes, it is always useful to be aware of who they are. At this point, most leading issues belong to one of the following trading themes:
- clean energy (solar, charging stations and equipment, electric vehicles, fuel cells, etc.)
- or social distancing - mostly software, online retail, home office & entertainment, and COVID-related healthcare and biotech stocks.
Here are just a few of the ideas and comments I shared with subscribers last week: