As always, I have an interest in the best-performing stocks within my daily swing timeframe, which is 0-10 days. Within that timeframe, the best-performing stocks have been the ones near 52-week lows; this has been consistent every week since the 3/23 initial bottom. You can call it a dash for trash, dead cat bounce plays, etc. But this action is consistent with what typically happens in bear market dead cat bounces, the stocks hit the hardest, bounce the hardest. Regardless of your beliefs, this is a fact, and in case you were wondering, the gains are worth the same as stocks that are near highs and above moving averages.
$SPY TOP 25 best-performing stocks in the last 10-days; $APA $FANG $DVN $PVH $WHR While all the stocks are trading near 52-week lows and most if not all are below intermediate and long term averages, the gains are worth the same if they were near highs & above averages.
You can build a scan based on this information for the next time we correct in a big way, the scan might not get you into the “strongest stocks” but it will get you into the BEST-PERFORMING stocks if you are timeframe is 0-30 days.
$SPY largest point gainers in the last 5-days, same theme, of the initial bounce, the stocks that were hit the hardest are usually the ones the bounce the hardest initially.