The market holds on, today as well QQQ tests 21 EMA and settles down on 13 EMA.
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 (50% Uptrend)
- Corporate Bond (HYG) – Moderate (10%)
- Nasdaq 100 Power Shares (QQQ): (20%)
- IBD 50 ETF (FFTY): (20%)
- At least 100 New Highs Today out of 8000+ U.S. Socks: 98: (0%)
- US New High Stocks: 118 does not exceed New Low Stocks: 119: (0%)
Corporate Bond (HYG): (10%)
The corporate bond is trying to recover from the bad news—lost confidence level and gone below fast 13 EMA.
Nasdaq 100 Power Shares (QQQ): (20%)
The Nasdaq trying to recover again tests 21 EMA and settles above 13 EMA.
IBD 50 ETF (FFTY): (20%)
After the market shakeup, the IBD 50 again tested 48 EMA and pulled itself above the fast 13 EMA today.
Even though IBD is shaken up, it is above both EMAs. We can still say a 20% confidence. Nonetheless, it can change in no time.
NOT at least 100 New Highs Today out of 8000+ U.S. Socks: 98: (0%)
US New High Stocks: 98 does not exceed New Low Stocks: 119 : (0%)
New Highs: 98
New Lows: 119
Key Stocks – 27 Stocks on Radar, many triggering buy points.
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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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