Daily Stock Market Analysis for Week 24 Friday
Waiting for market to push higher to the resistance zone, the market is 80% in an uptrend.
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) (20%)
Nasdaq 100 Power Shares (QQQ): (20%)
IBD 50 ETF (FFTY): (20%)
At least 100 New Highs Today out of 8000+ U.S. Socks: 85: (0%)
US New High Stocks Exceed New Low Stocks: 49: (20%)
Corporate Bond (HYG): (20%)
Corporate Bonds are stuck in that 79 range, still trying to push higher.
Nasdaq 100 Power Shares (QQQ): (20%)
Inside day for Nasdaq with light volume let's see Friday can be the breakout day.
IBD 50 ETF (FFTY): (20%)
The IBD bounced off the 13 EMA, moving up.
At least 100 New Highs Today out of 8000+ U.S. Socks: 85: (0%)
US New High Stocks Exceed New Low Stocks: 49: (20%)
Key Stocks - Stocks on Radar.
SGHC - Position at 9.16
Day 4 - Good move with volume, sold half and in breakeven and even moved my stop.
ARLO - Position at 14.47
Day 9 - losing some momentum lets see how it acts tomorrow Monday
OPRX - Position at 13.21
Day 9 - Going good I will let it run
CRMD - Position at 13.31
Day 5 - Moving up, let play out.
PAYS - Position at 4.76
Day 5 - STP Exit, opps moved early.
ISSC - Didn't hit my entry. I will try again today
CTMX - Looking good to me, may be I will try this as a little position.
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.