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
