In his No-Huddle Offense segment during Monday night's Mad Money program, Jim Cramer said sometimes picking winners is as easy as looking at the new all-time high list.
There were 134 new highs on Friday alone. Looking at the top 20 new highs in the S&P 500 reveals a number of hot trends, including numerous cloud computing stories like ServiceNow (NOW) .
(For more, see Jim Cramer: 20 Stocks That Are Emblematic of What's Driving the Market)
Let's check out the charts of NOW.
In this daily bar chart of NOW, below, we can see that prices pushed up to new highs in May and June. The popular 50-day moving average and the 200-day moving average show positive slopes.
The On-Balance-Volume (OBV) line has been in an uptrend from late October and has been making new highs this month.
The Moving Average Convergence Divergence (MACD) oscillator has narrowed greatly in recent sessions and now looks ready to cross to the upside for a fresh outright buy signal.

In this weekly bar chart of NOW, below, we can see that NOW has rewarded patient investors handsomely over the past three years. Prices are trading above the rising 40-week moving average line.
The weekly OBV line has been steady in May and this month is close to making a new high. The MACD oscillator is at a new high for the move up and very bullish.
In this Point and Figure chart of NOW, below, we can see that prices just made a "triple top breakout" and there is a new price target of $479 indicated.
Bottom line strategy: Risking a close below $380, traders can go long or add to longs at current levels. The $480 area is our next upside price target.