Broad Market Update — AAPL, AVGO, NVDA and more

Jack Carter | July 16, 2024

It’s Jack, and today I want to give you a market update using charts.

As they say, a picture is worth a thousand words, so let’s dive in.

First up, let’s look at the S&P 500 using the SPY ETF. The chart shows a strong bullish trend, with SPY above all three trend points and the long-term trend at a nice 45-degree angle. This is a very positive sign for the market.

Next, we check out DIA, another bullish chart. However, it might have a minor pullback soon. Anytime you see several blue bar days in a row, it indicates a higher daily high and low, suggesting a short-term cool-off is imminent. But don’t worry, it’s just a temporary dip.

The QQQ, which is tech-heavy and my favorite, is also showing strong bullish momentum. It’s the most bullish of the three major indices and looks great overall.

Now, let’s look at some popular stocks:

Apple (AAPL) is making a new high, but with a lot of loft (the difference between the stock price and the trend line), a pullback is likely.

AVGO is a stock I’m long on, despite its volatility due to the recent stock split. It’s in a solid uptrend and should continue to trade higher.

Nvidia (NVDA) is bullish, resting on its short-term trend point, which indicates good volatility and a directional bias – perfect for options trading.

Amazon (AMZN) and ASML (charts not shown) are also bullish and making new highs, showcasing strong market trends.

So to summarize, we have a very bullish market with plenty of stocks hitting new highs and very few making new lows.

This is a strong indicator of the market’s positive momentum.

If you watched today’s video, you can see how easily I’m able to pull up the hottest trending stocks.

It’s all because of my TrendPoint software. And tomorrow at 10am Eastern, I’m going to be giving a free demo — plus sharing the TOP SUMMER STOCKS it’s found for me. Click here to register your spot!

Trade well,

Jack Carter

Trending Stocks of the Week — July 16, 2024

Jack Carter | July 16, 2024

Every stock I’ve ever recommended, every trade I’ve ever shared with you started in one place:

My custom-built TrendPoint software. And today I want to walk you through the software and share with you the hottest stocks of the summer that it’s picked up on! Click here to check it out.

Now for our top trending stocks of the week:

To help you discover the power of trends, every week, every week, I share with you a handful of the top trending stocks.

These stocks are picked by the custom-built TrendPoint software I designed to pick the strongest trending stocks in the market right now.

If you know anything about me, you know that every trade I get into starts with a trending stock.

Unless a stock is in a strong trend, I don’t want to hear about it. In my book, wishy washy stocks are the quickest way to losing money.

This Week’s Stocks

All 3 indexes — the SPY, the DIA and the QQQ — are firmly in bullish territory, so we’re back to trading in the same direction as the broad market.

These 3 stocks are even MORE bullish than the broad market:

  • AER
  • BAC
  • GDDY

And don’t forget about last week’s picks, which you can find here.

This week’s stocks show a strong trend and could still be in play for the next few weeks.

What can you do with these stocks?

Well, there are a couple of things you could consider — after doing your own research, of course:

  1. You could just buy the stock. This is probably the simplest thing you could do. Then just wait for it to go up and sell when you hit a profit target you’re comfortable with. This is only for stocks we’re long on. For stocks we’re short on, you can short them.
  2. You could buy an option. You know I’m not a fan of speculative plays, but every once in a while it doesn’t hurt to throw a little cash at a speculative option. Of course, while options can move bigtime if the stock goes up… the downside of options is that you have a time limit on how quickly you need the stock to make that move. So think about your risk tolerance and consider buying calls or puts depending on the stock recommendations above.
  3. You could do an income play. If you’ve been following me for any length of time, you know that I’m a big fan of income plays, because they increase your odds of winning. We do this by SELLING options instead of buying them. If you haven’t tried your hand at income trading yet, I urge you to try this exercise for yourself.

    Without risking any money, it will really let you see the power of income trading and why it’s my favorite method.

    Whether you end up doing naked puts, covered calls or some kind of spread, this is really my preferred method to use when I’ve found a great trending stock like the ones on this week’s list.

That’s it for now.

Stay tuned, because I’ll be sending you a new list of TrendPoint Best Trending Stocks every week! (usually Mondays)

Trade well,

Jack Carter