Daily Stock Market Analysis for Week 44 Wednesday
Daily Stock Market Analysis for Week 44 Wednesday
The market looks happy before the election and is rallying, will have to wait until the results.
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 (80% Uptrend)
Corporate Bond (HYG) – Moderate (0%)
Nasdaq 100 Power Shares (QQQ): (20%)
IBD 50 ETF (FFTY): (20%)
At least 100 New Highs Today out of 8000+ U.S. Socks: 87: (20%)
US New High Stocks Exceed New Low Stocks: 104: (20%)
Corporate Bond (HYG): (0%)
Corporate bonds pulled up a bit but still, under 48 EMA, election volatility is kicking in.
Nasdaq 100 Power Shares (QQQ): (20%)
Nasdaq is rallying before the election and managed to close above short 13 EMA, but there is only moderate volume.
IBD 50 ETF (FFTY): (20%)
The IBD 50 has a good bounce. It closes above the 13 EMA with authority. The volume is strong in the positive market.
At least 100 New Highs Today out of 8000+ U.S. Socks: 171: (20%)
US New High Stocks Exceed New Low Stocks : 97: (20%)
New Highs: 171
New Lows: 97
Key Stocks - 18 Stocks on the Radar. Many trigger buy points. I will wait for the election dust to settle.
RKLB - Is moving higher but not showing any volume and there is Earnings upcoming so will be risky.
IONQ- Oh this is so tempting, this is a good setup, But earnings is tomorrow, so lets wait.
INOD - Breaks out and looking good, there is earnings on Thursday.
XMTR - Good move after earnings.
BUY ME A COFFEE if you feel the effort is worth it.
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. You should consult a qualified financial advisor before making investment or financial decisions.