The market is bullish on the economic data, all the indexes DOW, Nasdaq, S&P and Russel closed in green.
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 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 looks good. There is confidence in the market at this stage. It has an inside day.
Nasdaq 100 Power Shares (QQQ): (20%)
The Nasdaq performs strongly and is above the fast 13 EMA and the slow 48 EMA.
QQQ bounced up and ended in the green with decent volume.
IBD 50 ETF (FFTY): (20%)
At least 100 New Highs Today out of 8000+ U.S. Socks: 116: (20%)
US New High Stocks: 116 exceeds New Low Stocks: 68 : (20%)
New Highs: 116
New Lows: 68
Key Stocks – 27 Stocks on Radar, many triggering buy points.
Please Subscribe to my Substack ( https://substack.com/@rprateek) for daily key stocks on my radar and screenshots of my entries and exits.
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.
Recommended books to learn about trading and investing in an informed way
