SPY, IWM, NYA and NDX in particular, remain strong despite the financial media spin on the current news cycle.
The Nasdaq 100 stocks are all green in early trading, as ULTA, AVGO, LRCX, MCHP, ATVI, ASML, CDNS, AMD, FOXA and AMZN lead the “Top 10” this morning. LRCX was at the top of the list on Thursday as well.
.
NDX 100 Weekly Chart
Nasdaq weekly illustrates strength, as price moves through overhead resistance this week. RSI is rising and above 50, while MACD remains above its signal line. The latter confirms bulls remain in control. Volume is significant in this twelve week bullish cycle.
.
Additional points to consider:
- New highs were beating new lows Monday ~ Thursday.
- NYHL rose sharply. Stocks were bullish for the most part.
- TICK and TICKQ cumulative indicators are rising sharply most of the week. The latter can only rise if institutions are buying more stocks on the uptick than they are selling on the downtick.
- Risk on indicators, JNK, IWM and IBB were flat on Thursday.
.
Bullish setups from the watchlist(s) past and present that are trending:
AAPL, ALXN, AMD, ANET, BAH, CSII, CTRE, FND, HAIN, HQY, INTU, JNJ, PLNT, TIF, TTD, V, WP, YETI.
Continue trailing stops on these new positions.
Futures are oscillating this morning.
Join us today in the trading room for our LIVESTREAM broadcastduring market hours, as we trade the Nasdaq 100 and other new positions.
Watch, listen and trade from 9:20 AM to 4:15 PM Monday through Friday.
Happy Trading,
Vinny
Want to become a member? Check details here:
………………………………………………………………………………………………………………………….
.
Disclaimer: Do your Own Research
Our content is intended to be used and must be used for informational purposes only. It is very important to do your own analysis before making any investment based on your own personal circumstances. You should take independent financial advice from a professional investment advisor in connection with, or independently research and verify, any information that you find on our Website and wish to rely upon, whether for the purpose of making an investment decision or otherwise. Trades and or positions listed and taken from the watchlist are my own and should not be considered “advise” to enter any particular position or asset.
Investment Warnings
We would like to draw your attention to the following important investment warnings. The value of shares and investments and the income derived from them can go down as well as up; Investors may not get back the amount they invested – losing one’s shirt is a real risk; past performance is not a guide to future performance.
Live Sessions
Live broadcasts are educational in their content. Proper risk management is considered on every trade or asset mentioned.
*** Stocks highlighted are for information purposes only and should not be considered as advice to purchase or to sell mentioned securities.
As always, the use of technical and fundamental analysis is encouraged in order to fine tune entry and exit points to average seasonal trends.
These mentions are stocks that we may or may not decide to trade as outlined in the watchlist. Always use a stop.