MLR - PMP 4/24/15

Published : April 24 2015 at 9:06 ET

Major averages rose yesterday on higher volume. The NASDAQ Composite had its third day of higher close above the 5000 resistance level. It stands a mere 1.48% below its all time high of 5,132. It's the last major index to hit new highs because it carried the most explosive upside back in late 1999/early 2000 just before the bubble burst. NASDAQ futures are up sharply this morning after big after-hours, post-earnings moves in (AMZN), Google (GOOGL), Microsoft (MSFT), and Starbucks (SBUX) last night while the S&P futures remain relatively flat.

Boding well for a continued uptrend, another slew of actionable names appeared further demonstrating healthy market internals:

Automotive parts retailer ORLY had a buyable gap up on a strong earnings report. Earnings are accelerating, ROE 39.1%, group rank 43.

Pocket pivots:

Cannabinoid maker GWPH - another pocket pivot. We reported on this stock on April 13 when it had a pocket pivot. It is the leading stock in its space.

Clothing retailer GIII - earnings are accelerating, group rank 31.

Clothing retailer HBI - earnings and sales are accelerating, ROE 44.1%, group rank 31.

Cosmetic beauty retailer ULTA - gapped up on its prior earnings report. Group rank 44.

IT management services company TYL had a pocket pivot after reporting earnings. There was a tug-o-war but the bulls seem to be winning. Pretax margin 23.6%, group rank 10.

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