Stock Market Outlook and Daily Stock Updates
Major indexes are looking for direction but Small Caps and Dow Jones are dropping, while NVDA soars after multiple buy points hit
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 and appears to be overextended. 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 is bouncing up trying to break out of the 485.50 range this is the third attempt but is at 485.82 lets see a movement tomorrow. Since the DOW and Russel are falling back, it is unlikely it will break out.
IBD 50 ETF (FFTY): (20%)
The IBD 50 is performing ok and is above the fast 13 EMA and the slow 48 EMA. There is no change in IBD 50. It looks like it will be exhausting soon. It can tighten up here a bit to break out.
At least 100 New Highs Today out of 8000+ U.S. Socks: 133: (20%)
US New High Stocks: 133 exceeds New Low Stocks: 94 : (20%)
New Highs: 133
New Lows: 94
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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