Leading US Stocks outperform Indices
The stock market wavered on Tuesday as the post-Fed rally ran out of steam, although small caps and leading stocks performed better than most major indices.
A mix of consumer, energy and health care leaders helped the index rise more than 1%, driven by a handful of outsize gains. Pockets of strength in software, chip, biotech, solar and internet stocks helped the Nasdaq limit its loss to 0.2%. The S&P technology sector was down 0.7% overall. The Dow Jones Industrial Average lagged with a 1.2% drop.
Earnings and Fed News Influence Stock Market
Tuesday's stock market wrestled with earnings reports, economic data, remarks from Fed officials and political strife. The stock market also dealt with geopolitical risk, this time in the Far East. House Speaker Nancy Pelosi's diplomatic visit to Taiwan angered Chinese leaders. Beijing, which had warned of consequences if Pelosi went ahead with her trip, sent warplanes over the Taiwan Strait and launched live-fire naval exercises.
WHAT NOW?
The overall market environment for breakout traders remains bullish, although we are not yet out of the woods. Bottoming after a bear market is a process which can take significant time.
Breakout / swing-traders should be invested by ca. 50% by now but continue to remain highly cautious. Only increase your exposure on the back of gains in your own portfolio and always stick to your stop losses.
Here is the link to our updated watchlist:
tradingview.com/watchlists/75013711/
A mix of consumer, energy and health care leaders helped the index rise more than 1%, driven by a handful of outsize gains. Pockets of strength in software, chip, biotech, solar and internet stocks helped the Nasdaq limit its loss to 0.2%. The S&P technology sector was down 0.7% overall. The Dow Jones Industrial Average lagged with a 1.2% drop.
Earnings and Fed News Influence Stock Market
Tuesday's stock market wrestled with earnings reports, economic data, remarks from Fed officials and political strife. The stock market also dealt with geopolitical risk, this time in the Far East. House Speaker Nancy Pelosi's diplomatic visit to Taiwan angered Chinese leaders. Beijing, which had warned of consequences if Pelosi went ahead with her trip, sent warplanes over the Taiwan Strait and launched live-fire naval exercises.
WHAT NOW?
The overall market environment for breakout traders remains bullish, although we are not yet out of the woods. Bottoming after a bear market is a process which can take significant time.
Breakout / swing-traders should be invested by ca. 50% by now but continue to remain highly cautious. Only increase your exposure on the back of gains in your own portfolio and always stick to your stop losses.
Here is the link to our updated watchlist:
tradingview.com/watchlists/75013711/
Combing the BEST of two WORLD's: Cathie Wood & Mark Minervini
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