Monday, May 6, 2024

Suddenly Lots of Stocks Are Hitting New Highs

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More stocks are showing signs of a breakout as the Federal Reserve meets and the S&P 500 jumps above last summer's peak. Forty-three members of the S&P 500 made new 52-week highs on Tuesday, according...

Technical Analysis: Don’t Forget About Alphabet

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Alphabet has been on the sidelines since a big rally in May. Is it time for traders to think about more upside? The first pattern on today’s chart is last August’s peak around $122.43. GOOGL...

Stocks Approach August Highs Amid Talk of a New Bull Market

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Talk of a new bull market is buzzing on Wall Street with the Federal Reserve expected to stop raising interest rates. The S&P 500 rose 0.4 percent between Friday, June 2, and Friday, June 9....

Buyers Rotate to Cyclicals as Tech Cools Before Fed: Market Trends This Week

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Downloads are available here. MACD cross days available here. Register for Market Trends here. Sizing Up the S&P 500 VIX nears February 2020 low Advance/Decline Line rises as breadth catches up S&P 500 potentially overbought above Keltner Channel CME FedWatch: Fed...

Chart of the Day: Carnival Pushes a Key Level

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Carnival has been stuck in the doldrums since last summer, but now some traders may think it’s ready to cruise higher. The first pattern on today’s chart is Friday’s last price of $12.18. While the...

Are Buyers Pivoting Away From Tech as Stocks Break Out?

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Investors may be pivoting to old-economy stocks as a new month begins and the market continues higher. The S&P 500 rose 1.8 percent in the holiday-shortened period between Friday, May 26, and Friday, June 2....

Semiconductors Led Tech Higher in May as Earnings Beat and Inflation Slowed

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Stocks rose for a third month in May, fueled by an explosive rally in chipmakers and artificial intelligence. The S&P 500 briefly dipped below its April low but quickly rebounded to end the month up...

Stocks Fight Higher as Nvidia Drives Artificial Intelligence Rally on the Nasdaq

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Stocks keep rising as artificial intelligence revives interest in technology and growth stocks. Last week's big mover was AI leader Nvidia. The semiconductor giant jumped 25 percent after forecasting revenue far above consensus estimates. It...

Positives Build Amid Debt Ceiling Wait: Market Trends This Week

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Downloads are available here. Register for Market Trends here. Sizing Up the S&P 500 S&P 500 holds middle of 4050-4187 range Debt ceiling may increasingly overshadow technicals into June 1 Potential support at 50-day MA at 4090 20 level on VIX...

Stocks Challenge Highs as Bulls Wait for Debt Ceiling Progress

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Stocks are challenging their highs for the year as investors wait for Congress to raise the national debt limit. The S&P 500 rose 1.6 percent between Friday, May 12, and Friday, May 19. It was...
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