What's Next For TSLA?
Growth stocks like AAPL, MSFT, and TSLA have rotated lower in July and August, with further downside potential as interest rates remain elevated. Will Tesla bounce off support and threaten new highs again, or is this recent decline just the beginning of a bearish trend for stocks?
What Is The McClellan Oscillator? | August 2023 Update
The McClellan Oscillator is a market breadth indicator that uses advance-decline data to gauge price momentum. This classic technical analysis technique can help validate what you see on the chart of the S&P 500 or Nasdaq, and this week it generated a key bearish signal! We'll break down the construction of this technical indicator, and talk about downside potential for the SPX given this bearish reversal.
Key Market Breadth Indicator Turns Bearish For QQQ
The Bullish Percent Indexes are market breadth indicators based on point & figure charts. Today we'll share the Bullish Percent Index for the Nasdaq 100, and show how a recent bearish signal is similar to previous pullbacks in 2023 and 2022.
Will FAANGs Hold Their 50-Day Moving Averages?
The dominance of mega cap growth stocks like MSFT, AAPL, AMZN, NFLX, and GOOGL has been the story of 2023. Are these FAANG stocks due for a pullback, and if so, will they hold support at the 50-day moving average?
The Chart to Watch For Market Tops
The S&P 500 has been making higher highs through the month of April. I was taught that it's best to develop an emergency plan when things are going well! Here are five key indicators to track the resilient uptrend in stocks, and prepare for the eventual downturn.
Peloton Threatens Head and Shoulders Top
The term "head and shoulders top" is often thrown around when a stock starts to show signs of distribution. As the work-from-home stocks have struggled recently, charts like Peloton Interactive (PTON) have transitioned from accumulation to distribution phase causing investors to question their long-term prospects.
Improving New Highs Would Validate Further Upside
The S&P 500 wrapped a rather volatile week by settling in at the upper end of the 3200-3600 range. One key breadth indicator shows clear similarities to the bull run in early October, and also provides a prescription for bulls looking for validation of further upside.
Looking for Strength? Look to Utilities!
While reviewing the 11 S&P 500 sectors and identifying stronger charts in the pile, it’s hard to find a better setup than the Utilities sector. The XLU chart also provides a textbook example of big base breaking on improving relative strength.
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