Corporate bonds and the market recover a little, and the Nasdaq bounces on positive Tesla earnings.
Market Outlook and Daily Stock Updates
Note:- “Understanding the overall market trend is crucial before analyzing individual stocks. If the market is trending downward, it’s unlikely that individual stocks will do well. Thus, assessing the broader market behavior is important before focusing on specific stocks. I rely on a few key indicators to gauge market trends. These indicators guide my decision on whether to invest or hold cash. I assign a percentage score to each of these indicators. The total score determines how much capital I will assign to the market.”
Summary of Market Analysis (80% Uptrend)
- Corporate Bond (HYG) – Moderate (10%)
- Nasdaq 100 Power Shares (QQQ): (20%)
- IBD 50 ETF (FFTY): (10%)
- At least 100 New Highs Today out of 8000+ U.S. Socks: 133: (20%)
- US New High Stocks Exceed New Low Stocks: 85: (20%)
Corporate Bond (HYG): (10%)
Corporate bonds recovered above the slow 48 EMA. They are showing some signs of recovery. Nonetheless, we are not out of the woods yet.
Nasdaq 100 Power Shares (QQQ): (20%)
The Nasdaq recovered above 13 EMA from a positive bounce on positive TSLA earnings.
IBD 50 ETF (FFTY): (10%)
The IBD 50 is trying hard to get to 13 EMA. It is above the slower 48 EMA. Yet, it is not showing much confidence in recovery.
At least 100 New Highs Today out of 8000+ U.S. Socks (NO): 133: (20%)
US New High Stocks Exceed New Low Stocks : 85: (20%)
New Highs: 133
New Lows: 85
Key Stocks – 24 Stocks on Radar, many triggering buy points and breakouts
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Disclaimer:
This newsletter is intended for educational purposes only and should not be construed as financial advice. I strongly encourage you to conduct thorough research. Consult with a qualified financial advisor before making any investment or financial decisions.
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