Market Outlook and Daily Stock Updates
Market indexes gapped up but lost momentum at the end but corporate bond is still showing some strength.
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 perform well. Therefore, 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 combined score determines how much of my capital I will allocate to the market.”
Summary of Market Analysis (100% Uptrend)
- Corporate Bond (HYG) – Confident (20%)
- Nasdaq 100 Power Shares (QQQ): (20%)
- IBD 50 ETF (FFTY): (20%)
- At least 100 New Highs Today out of 8000+ U.S. Socks: 171: (20%)
- US New High Stocks: 171 exceeds New Low Stocks: 94: (20%)
Corporate Bond (HYG): (20%)
The corporate bond ETF is performing strongly. It looks like it is trying to create a bull flag. I would love to see it based around a bit in the coming days.
Nasdaq 100 Power Shares (QQQ): (20%)
The Nasdaq is performing strongly and is above the fast 13 EMA and the slow 48 EMA.
QQQ gapped up and broke out of the 485.50 range, it was strong break out in the beginning but gave up some momentum at the end. I expect them moving towards the side in few days for letting moving averages catch up.
IBD 50 ETF (FFTY): (20%)
The IBD 50 is performing ok and is above the fast 13 EMA and the slow 48 EMA.
IBD 50 is showing some concerns now. It touched the downward trendline and dropped sharply, which is worrying at the moment.
At least 100 New Highs Today out of 8000+ U.S. Socks: 135: (20%)
US New High Stocks: 135 exceeds New Low Stocks: 87 : (20%)
New Highs: 135
New Lows: 87
Key Stocks – Stocks on Radar
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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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