Daily Stock Market Analysis for Week 44 Tuesday
Daily Stock Market Analysis for Week 44 Tuesday
The market is in the danger zone. Election week is causing a lot of uncertainty, so it's time to be cautious.
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 do well. Thus, 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 total score determines how much capital I will assign to the market."
Summary of Market Analysis (10% Uptrend - Time to Be in Cash)
Corporate Bond (HYG) – Moderate (0%)
Nasdaq 100 Power Shares (QQQ): (10%)
IBD 50 ETF (FFTY): (0%)
At least 100 New Highs Today out of 8000+ U.S. Socks: 87: (0%)
US New High Stocks Exceed New Low Stocks: 104: (0%)
Corporate Bond (HYG): (0%)
Corporate bond is panicking and, the sell signal indicator is flashing sell. Time to be out of the market.
Nasdaq 100 Power Shares (QQQ): (10%)
Nasdaq managed to close just at the 48 EMA. The pressure is downwards. If it loses the 48 EMA, it can drop hard.
IBD 50 ETF (FFTY): (0%)
The IBD 50 lost 48 EMA, in the danger zone.
At least 100 New Highs Today out of 8000+ U.S. Socks: 87: (0%)
US New High Stocks Exceed New Low Stocks : 104: (0%)
New Highs: 87
New Lows: 104
Key Stocks - 18 Stocks on Radar, will wait out this week for stocks to prove themselves in the market volatility
ECOR - Good volume and good moves, but this week's market is in a danger zone and its earnings are near.
ALHC- Good follow-through from the breakout.
NN, ZLAB, and MNPR - Triggers buy point, but market conditions are not letting me get in the trade. These will come back for entry if the market plays up due to the election.
