The Nasdaq and the S&P made new, all-time highs today. The market is a bit excited, waiting on (hopefully) positive reports from major Nasdaq 100 components. Let’s talk about GOOGL, AAPL, AKAM, BYND, and more, and what it means for the market.
Sure the NASDAQ and S&P have everyone’s attention, but the low volume and lack of punching through key VScore levels tells me there’s not broad participation, aka volume. Here’s the plan as we start a historic week.
Just because I have a degree of skepticism about broader averages and their new highs doesn’t mean I am not open to long positions. In this video I walk through the XLY Discretionary ETF (important to NASDAQ futures traders) as I also explain the setups in the XLP Staples ETF.
With all eyes on GOOGL next week, look to buy this dip on Monday.
Now that we are spitting distance from new all-time highs, what happens next week?
