|Day Low/High||91.70 / 95.36|
|52 Wk Low/High||27.55 / 98.99|
A weak close will be a key sign that a change in character might be coming.
It has the potential to gain strong momentum as it's mainly a technical trade.
Despite the lackluster action there are some pockets of good stock picking again.
The best thing I see about this market right now is that stock picking matters.
Trump administration taps former GlaxoSmithKline exec as head of vaccine task force, and how I'm playing Walmart and Datadog.
Technically the late-day selling is not a major negative, as plenty of charts need rest.
Investor enthusiasm for richly-valued tech names might not significantly wane until some downbeat business news starts to arrive.
Reopening is the popular phrase now, but the buying is coming in names and spaces that may actually do better if we have a slow uptake of the traditional economy.
Here are some groups and names I've got my eye on.
The strategy with DDOG here is to either pocket some change, or wind up paying yesterday's prices for a stock now on a serious run higher.
This market is far from 'just right' as 3 sectors run higher while the DJIA lags far behind. With 3 doctors testifying on Capitol Hill on Tuesday, this session could be risk-heavy.
This is a stock worth owning as telecommuting options are likely to outlive the pandemic.
It's best to not be dogmatically bullish or bearish.
Pull in timelines and focus on stocks that will ultimately do well in a post-Covid world.
The direction of the market in the coming weeks will hinge in part on progress in reopening the U.S. and European economies.
I don't have a cute acronym, but I guess we could say this is the GPS to find relative value.
Even if you are bullish and want to try to ride the uptrend the entry points are extremely difficult.
I continue to follow the 6 names and believe several of them will recover well.
A dozen interesting names are reporting Thursday night. Let's see how things are setting up for each of them.
I've previously discussed why these six stocks are my top picks for 2020. I will periodically provide updates and discuss my strategy for trading them.
Here are my takes on stocks in biotech and other companies I own right now.
Many traders don't realize how the nature of price action has shifted.
Given broader market weakness, this is a good time to take a look at these names and develop strategies.
As long as these charts hold up, I will continue to hold them regardless of what the indices might do.
My approach to this sort of action is to forget the indices and focus on managing your individual positions.
This strength illustrates how much buying power there still is in this market.