Oh boy.
The market got exactly what it wanted today — and it is flying.
Inflation was better-than-expected and bond yields are finally falling.
That’s a double shot of espresso for Bulls.
And there are a lot of stocks sprinting toward breakout points.
Discount retailer TJX is one of those stocks.
Back when we talked about it in October, TJX looked like it might be ready to move.
Now it’s charging toward its $93.78 breakout point.
A break above that level would be an all-time high, and it could lead to a huge run.
We’ll keep an eye on it.
Happy trading,
— Scott Welsh
P.S. As a reminder, these plays are based on my longer-term Weinstein Stage Analysis method. The chart above uses weekly candles and a 30 week simple moving average. For details on this method, see my explanation on this Ask The Pros episode starting at timestamp 20:45.
