The charts in this video are powered by MarketSmith
Most of last week’s price action can be summarized in one sentence: tech stocks continue to outperform the rest of the market while cryptos are outperforming the tech sector.
Semis are hovering near all-time highs – SMH, NVDA. AMD, AMAT, and LRCX are setting up for a potential breakout.
Software stocks have been extremely strong – not only cybersecurity but also application and infrastructure software names – IGV, SKYY, ZS, OKTA, S, NET, MDB, WDAY, TEAM, U, SNOW, CRWD, BILL, SHOP, LSPD, etc.
The payment stocks – PYPL and SQ are both working on new bases. PYPL seems ready to close its earnings gap and push towards 300. SQ is setting up for a breakout near 275.
Covid-related stocks are perking up again. The mRNA vaccines – MRNA and BNTX finished on a high note last Friday. The testing stocks like DGX, TMO, HOLX, QDEL, have been slowly climbing as well. Health pass stock YOU is also setting up for a potential bounce.
Try my subscription service which includes a private Twitter feed with option and stock ideas, emails with concise market commentary and actionable swing, intraday, and position trade ideas, the Momentum 40 list of market leaders, and much more. See some of the recent testimonials.
Here’s a Google spreadsheet tracking all closed options and stock ideas shared on my private Twitter stream and emails for subscribers.
Check out my free weekly email to get an idea of the content I share with members.
Disclaimer: Everything I share is for educational and informational purposes only and it should not be considered financial advice.