Higher Quality Names DeMARK Scan

UBS published a note this morning about higher quality names leading the upside on the next phase of the cycle. The charge below shows the 12 month forward earnings of that basket relative to the low quality names.

Below are some of the tickers in that basket with their current market timing counts. Remember, a 13 on the bottom side means downside momentum is coming to an end.

GOOGL - TD Combo Agg 13 at the lows.

EL - Estee Lauder still too early to be trying anything here but that is a wave 5 bottom projection (1.618%) from the highs that we created.

Very similar look on the banking stocks, which we covered in the prior posts. COF higher quality name but no big countdowns.

An aside, the entire XLF basket has Sequential 13 downside completion counts implying that a turnaround is about to happen in the banking sector.

PAYX first undercut of the 200 day moving average. The trigger to get long would be a close back above 125.

PFE sitting right at the daily TDST after completing a 9 sell setup and undercutting the 200 day moving average. No trade yet. Long above 50.