Not a whole lot to add to Friday's action. The only index to make ground was the Russell 2000: it's working toward a challenge of the November peak as part of a double bottom at 1,155.
But there wasn't much else to report. A doji in the S&P came with higher volume (accumulation?), but little else.
The NASDAQ is still playing to a bearish 'flag' - look for a breakdown on Monday.
The Semiconductor Index continues to make ground towards its 715/20 target.
NASDAQ breadth is neither oversold, nor overbought, although there was a breakout in the Summation Index and Bullish Percents which, if there was a coin-toss decision, would give an edge to bulls. So, will the 'bear flag' trade itself out as a straight breakout instead? Let price be your lead: an option straddle on the PowerShares QQQ ETF (NASDAQ:QQQ) could also be good here.
Which stock should you buy in your very next trade?
With valuations skyrocketing in 2024, many investors are uneasy putting more money into stocks. Unsure where to invest next? Get access to our proven portfolios and discover high-potential opportunities.
In 2024 alone, ProPicks AI identified 2 stocks that surged over 150%, 4 additional stocks that leaped over 30%, and 3 more that climbed over 25%. That's an impressive track record.
With portfolios tailored for Dow stocks, S&P stocks, Tech stocks, and Mid Cap stocks, you can explore various wealth-building strategies.