Thursday, May 2, 2024

Market Stair-Steps Higher as Fed Passes: Market Trends This Week

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Downloads are available here. TradeStation’s ideas on TradingView are available here. Register for Market Trends here. Sizing Up the S&P 500 S&P 500 forms another tight range near 52-week high July 20 low held July 14 high as resistance becomes support...

Chart of the Day: Tight Consolidation in Semiconductor Equipment Stock

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Semiconductors have outperformed lately as investors get excited about demand from artificial intelligence (AI). Today’s chart considers equipment supplier Lam Research . The first pattern is the rising 50-day simple moving average. LRCX has consolidated...

Chart of the Day: Is Caesars Following Travel Stocks Higher?

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Travel stocks have climbed recently, and now Caesars Entertainment could be showing signs of strength. The first pattern on today’s chart is the falling trendline along the highs of February, March and mid-June. The casino...

Chart of the Day: Lululemon Could Be Running

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Lululemon spent more than half of 2023 in a range, but now it could be starting to run. The first pattern on today’s chart is the bullish gap after LULU was added to the S&P...

Chart of the Day: Potential Uptrend in DraftKings

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DraftKings spent four months digesting a strong first half. Now after a rally and pullback, traders may see more upside in the sports-betting stock. The first pattern on today's chart is the August peak of...

Chart of the Day: Tight Price Action in Microsoft

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Microsoft has paused this month as the Nasdaq-100 climbs to new highs. However, some chart watchers could look for the software giant to come off the sidelines. The first pattern on today’s chart is the...

Chart of the Day: Will Small Caps Follow the S&P Higher?

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The Russell 2000 small cap index has lagged all year, but it may be showing some signs of coming to life. The first pattern on today’s chart is the rally in early June, a potential...

Technical Analysis: Can Caterpillar Hold Its Gains?

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Caterpillar has been leading a rally in industrial stocks, but now some traders may expect a pullback. Notice the gap to new record levels on August 1 after earnings beat estimates. CAT pushed to another...

Chart of the Day: Small Caps Are Leading to the Downside

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Indexes of big companies like the S&P 500 and Nasdaq-100 neared record highs in July, but not the small cap Russell 2000. Today we’ll use a weekly chart to consider how it’s leading to...

Chart of the Day: Netflix Consolidates After Earnings Surge

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Netflix jumped earlier this month after announcing results. It's now consolidating, and some traders may see potential for more upside. The first pattern on today's chart is the bullish gap on October 19 following the...
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