Surprisingly, the market takes the wrong turn due to bad news in the Middle East, 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 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 (70% 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: 118: (20%)
- US New High Stocks: 118 does not exceed New Low Stocks: 120: (0%)
Corporate Bond (HYG): (10%)
The corporate bond all of a sudden is showing some signs of panic. HYG lost confidence level and went below fast 13 EMA.
Nasdaq 100 Power Shares (QQQ): (20%)
The Nasdaq lost ground and tested 21 EMA but ended above 13 EMA.
IBD 50 ETF (FFTY): (20%)
The IBD 50 tested the slow 48 EMA and stayed above the fast 13 EMA during the market shakeup.
Even though IBD is shaken up, it is still above both EMAs. We can still say a 20% confidence. But it can change in no time.
At least 100 New Highs Today out of 8000+ U.S. Socks: 118: (20%)
US New High Stocks: 118 does not exceed New Low Stocks: 120 : (0%)
New Highs: 118
New Lows: 120
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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