October 18, 2021
There’s no question the snapback of the past couple of weeks has been very encouraging—the major indexes have rebounded beautifully, with many regaining their 50-day lines, and individual stocks have done great, with more and more moving back to (or out above) their prior highs. Obviously, the market isn’t totally out of the woods, as most indexes are still range-bound and earnings season is upon us, which will often change the trajectory of things. But the odds are increasing that the September/early October correction is over. We’re moving our Market Monitor back up to a level 7.
This week’s list represents the broad advance of late, with stocks of all different spots and stripes making the cut. Our Top Pick is a cybersecurity name that’s emerging from a six-week rest.