I'd never thoguht I'd say this so soon, but it's really time to invest in the Techs. NASDAQ has been hammered since 2000, and it really never recovered. Currently, it is sitll tradng at around half it's value, compared to it's golden days. However, the sector is pouring out solid earnings and forecasts. Amid a credit disaster, and the "R" word looming around the corner, it's time to invest in the tech stocks if you want growth. Here's what happend so far this week, following last Friday's sell off.
Bullish Technicals
FTD for NASDAQ
Growth stocks and leadership still finding support / leadership within oversold conditions
Consensus, Investors Intelligence, Market Vane and Low Risk Surveys
CBOE Volatility Index (VIX) forges two week highs with price highs of 28.82 > 15% 10-Day MA stretch & Gravestone signal
Bearish Technicals
‘extended’ 4 / 20-year bearish cycle convergence
Most heavily-weighted financials (XLF), Russell 2000 (IWM) “non participation”, testing of FTD lows
Two market distribution days since FTD signal
September period notoriously volatile and historically a poor monthly performer
FTD for NASDAQ
Growth stocks and leadership still finding support / leadership within oversold conditions
Consensus, Investors Intelligence, Market Vane and Low Risk Surveys
CBOE Volatility Index (VIX) forges two week highs with price highs of 28.82 > 15% 10-Day MA stretch & Gravestone signal
Bearish Technicals
‘extended’ 4 / 20-year bearish cycle convergence
Most heavily-weighted financials (XLF), Russell 2000 (IWM) “non participation”, testing of FTD lows
Two market distribution days since FTD signal
September period notoriously volatile and historically a poor monthly performer
After looking at the technicals, I'd look at the following for bullish growth stocks. And by the way, these companies are still hiring...
No comments:
Post a Comment