Want to start the week ahead of the pack? Check out Momentum Mondays, where I cover the leading breakout stocks in the market, summarize the major events of the week ahead, and prepare investors for profitable trading.
Today, we will be taking a look at the broad stock market indexes to summarize the action of the last few weeks, then we will look at the economic calendar to address any market moving data coming our way. And finally, I will share three compelling technical trade setups in stocks with top Zacks Ranks.
A Pullback Would Be Nice
The stock market has persisted higher for four straight weeks without taking a breath. Although momentum stocks continue to set up for higher prices, it would be a welcome development if the market could correct or consolidate for a week or two.
Nonetheless, the leading stocks continue to break out and carry the market higher.
Image Source: TradingView
Economic Calendar
The most important event this week is the inflation data release. PCE and Core PCE inflation will be reported Thursday morning and is of course a critical factor in the Federal Reserves interest rate policy decisions.
Technical Setups
Many Mid-Cap technology or setting up for aggressive year end rallies. Today I share three such stocks, and one mega-cap tech stock, all with top Zacks Ranks.
Image Source: TradingView
Bottom Line
Even the best trading setups fail, so it is always important for traders to prioritize making a trading plane, following the plan, and utilizing strict risk management protocols.
Good luck this week traders!
Momentum Monday: Stocks are Stretched, But Remain Strong
Want to start the week ahead of the pack? Check out Momentum Mondays, where I cover the leading breakout stocks in the market, summarize the major events of the week ahead, and prepare investors for profitable trading.
Today, we will be taking a look at the broad stock market indexes to summarize the action of the last few weeks, then we will look at the economic calendar to address any market moving data coming our way. And finally, I will share three compelling technical trade setups in stocks with top Zacks Ranks.
A Pullback Would Be Nice
The stock market has persisted higher for four straight weeks without taking a breath. Although momentum stocks continue to set up for higher prices, it would be a welcome development if the market could correct or consolidate for a week or two.
Nonetheless, the leading stocks continue to break out and carry the market higher.
Image Source: TradingView
Economic Calendar
The most important event this week is the inflation data release. PCE and Core PCE inflation will be reported Thursday morning and is of course a critical factor in the Federal Reserves interest rate policy decisions.
Technical Setups
Many Mid-Cap technology or setting up for aggressive year end rallies. Today I share three such stocks, and one mega-cap tech stock, all with top Zacks Ranks.
Image Source: TradingView
Bottom Line
Even the best trading setups fail, so it is always important for traders to prioritize making a trading plane, following the plan, and utilizing strict risk management protocols.
Good luck this week traders!