Which Ticker Or Sector Will Lead Now?
Is tech again pulling the stock market back from a sudden downturn?
Or are traders facing more of the same up-and-down chop of the last few months?
No matter how this market is playing right now, it hasn’t shown a clear direction going forward. It teeters on rallying higher with conviction and dropping into a downward spiral.
For those looking at big tech to lead, the FAANG gang (Facebook, Amazon, Apple, Netflix, and Alphabet – formerly known as Google) is facing increased government scrutiny across the globe even as MSFT surpassed the $2 trillion market value milestone (joining AAPL in this lofty position).
Simpler’s traders continue to work around the pundit-fueled fray surrounding the stock market. Sectors and tickers showing strength are the focus.
Energy is a key sector, and allows traders to focus on specific assets that are resilient in the midst of ongoing market volatility. The Nasdaq and S&P 500 indexes are also showing strength along with long-term bonds.
Finding the structure in this market is a way to view this wild environment more clearly. Simpler’s traders continue to “fall back” to proven plans, tools, and strategies while watching for structure to continue gaining strength.
The goal is to keep efforts balanced and continue picking spots cautiously, wisely in a market with never a dull moment.
No need to “marry” an idea or setup, like big tech, when we can dance to the current wild tune as we remain ready to take advantage of what the market presents going forward.
We Saw: Choppy market with Nasdaq lone positive index –
- U.S. lawmakers sizing up antitrust action for Big Tech
- MSFT hits $2 trillion club, joining AAPL
- Fed set to release bank stress results tomorrow
We’re Watching: Being vigilant to find strength in the market –
- Planting feeler positions as market consolidates
- Breaking through to testing new highs
- Nimble setups: SNAP, NFLX, energy, ETFs