Stock Market Rallies As GDP Triggers Recession
The stock market extended gains yesterday, in parallel the US economy officially entered a recession based on the commonly accepted definition. Amazon.com (AMZN) and Apple (AAPL) reported their quarterly results after the close and added to the market's gains:
Amazon up 12% , Apple up 4%. Stock market futures conitnue to rally as well.
The 10-year Treasury yield ticked down to 2.68%, closing at its lowest level since early April.
Stock Market
The stock market uptrend shrugged off the recession signal, as the Dow Jones Industrial Average and S&P 500 gained 1% and 1.2%, respectively. The tech-heavy Nasdaq rallied 1.1%. The small-cap Russell 2000 advanced 1.3%. While recession could slow earnings, it appears that most of the negative news are already discounted and priced into the stock market.
Our JS-TechTrading model portfolio had a great week which is confirmed by volume-proce action bymany leading stocks as well as the major market indices.
What does that mean for swing-traders?
Swing-traders have the green light to boost their exposure to stocks, focusing on those breaking out past correct buy points. Gradually commit capital to leading stocks. Still, it's not time to be overly aggressive as we potentially could have another leg down in the general market.
Here is the link to our updated watchlist:
tradingview.com/watchlists/75013711/
Watch out for health and technology stock. Industry group ratings suggest that those could be the leaders in the next bull market cycle.
All Stocks on our watchlist are absolute top picks and fulfill Minervini's Trend-Template criteria and are selected using IBD's CAN SLIM criteria. Also, they all have low risk entry points.
Amazon up 12% , Apple up 4%. Stock market futures conitnue to rally as well.
The 10-year Treasury yield ticked down to 2.68%, closing at its lowest level since early April.
Stock Market
The stock market uptrend shrugged off the recession signal, as the Dow Jones Industrial Average and S&P 500 gained 1% and 1.2%, respectively. The tech-heavy Nasdaq rallied 1.1%. The small-cap Russell 2000 advanced 1.3%. While recession could slow earnings, it appears that most of the negative news are already discounted and priced into the stock market.
Our JS-TechTrading model portfolio had a great week which is confirmed by volume-proce action bymany leading stocks as well as the major market indices.
What does that mean for swing-traders?
Swing-traders have the green light to boost their exposure to stocks, focusing on those breaking out past correct buy points. Gradually commit capital to leading stocks. Still, it's not time to be overly aggressive as we potentially could have another leg down in the general market.
Here is the link to our updated watchlist:
tradingview.com/watchlists/75013711/
Watch out for health and technology stock. Industry group ratings suggest that those could be the leaders in the next bull market cycle.
All Stocks on our watchlist are absolute top picks and fulfill Minervini's Trend-Template criteria and are selected using IBD's CAN SLIM criteria. Also, they all have low risk entry points.
Combing the BEST of two WORLD's: Cathie Wood & Mark Minervini
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