The market had a decent momentum towards highs, and Nasdaq cleared key levels.
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 happy, and there is confidence in the market at this stage. Last week, it was showing a bull flag. The end of the week looks like it is attempting to break out with volume. This will be pretty good for the stock market overall.
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 losing some ground in low volume. This is letting the moving averages catch up. There are no concerns at this stage. S&P and Dow both are gaining momentum.
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 still in the bull flag pattern however cannot make decision at this stage.
At least 100 New Highs Today out of 8000+ U.S. Socks: 127: (20%)
US New High Stocks: 127 exceeds New Low Stocks: 47 : (20%)
New Highs: 127
New Lows: 47
Key Stocks – 27 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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