Blog Post: Day 61 of $QQQ short term up-trend; 64 out of 6,410 US stocks traded at an ATH on Wednesday; one of them, $CLS came back after bouncing off of its 21 EMA, see its promising daily and weekly charts.

CLS had been tracking its 8 EMA beautifully and when it closed below it on Tuesday, I thought that it had broken trend. However, it retook its 8 EMA on Wednesday after finding support at the 21 EMA. If a setup fails and then succeeds, it can be a good trade to buy the stock back. Note how long CLS is also tracking its 4 wk average (red dotted line). That is another strategy to consider for identifying promising stocks. CLS reports earnings on 7/28.