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 and earnings releases to address any market moving data coming our way. And finally, I will share several compelling technical trade setups in stocks with top Zacks Ranks.
Inflation Data this Week
There are a few critical data points coming out this week, but none as important as the PCE and Core PCE inflation numbers on Thursday morning. Just last week, in the FOMC minutes, Fed members noted the risks of reigniting inflation. This is a serious risk, and the data this week will be scrutinized closely by wall street.
Earnings season is near an end with Workday, Lowe's, American Tower, AMC, HP, Salesforce, TJX Companies, and Dell set to report.
Rate cut expectations have continued to fall. What was expected to be six rate cuts this year has shifted to just three over the last month.
Broadening Channels
We are quite clearly amid a powerful bull market, so don’t let the doom and gloomers convince you otherwise. While this trading cycle rally, which started two months ago is very strong, it is also getting a bit long in the tooth, so a pullback could occur at any moment. But don’t let that stop you from trading some of these explosive stocks.
It is worth noting that the indexes and some of the leading stocks are building out broadening channels. This could indicate that volatility will have to fall a bit before the next leg higher comes, which may mean some sideways action in stock, although this is no guarantee.
The best bull trends happen in markets with low and falling volatility. A long grind higher is what the bulls like to see.
Breakout Setups
As I go through the Zacks Rank list I am seeing many conducive trading setups. There are so many great stocks on the list that are steadily outperforming the market.
Some of the best trades I see out there include ARM Holdings ARM, KKR & Co. KKR, Coinbase COIN, Cleanspark CLSK, Cardinal Health CAH, and Manhattan Associates MANH.
Bottom Line
Even the best trading setups fail, so it is always important for traders to prioritize making a trading plan, following the plan, and utilizing strict risk management protocols.
Good luck this week traders!
4 Oil Stocks with Massive Upsides
Global demand for oil is through the roof... and oil producers are struggling to keep up. So even though oil prices are well off their recent highs, you can expect big profits from the companies that supply the world with "black gold."
Zacks Investment Research has just released an urgent special report to help you bank on this trend.
In Oil Market on Fire, you'll discover 4 unexpected oil and gas stocks positioned for big gains in the coming weeks and months. You don't want to miss these recommendations.
Download your free report now to see them.
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 and earnings releases to address any market moving data coming our way. And finally, I will share several compelling technical trade setups in stocks with top Zacks Ranks.
Inflation Data this Week
There are a few critical data points coming out this week, but none as important as the PCE and Core PCE inflation numbers on Thursday morning. Just last week, in the FOMC minutes, Fed members noted the risks of reigniting inflation. This is a serious risk, and the data this week will be scrutinized closely by wall street.
Earnings season is near an end with Workday, Lowe's, American Tower, AMC, HP, Salesforce, TJX Companies, and Dell set to report.
Rate cut expectations have continued to fall. What was expected to be six rate cuts this year has shifted to just three over the last month.
Broadening Channels
We are quite clearly amid a powerful bull market, so don’t let the doom and gloomers convince you otherwise. While this trading cycle rally, which started two months ago is very strong, it is also getting a bit long in the tooth, so a pullback could occur at any moment. But don’t let that stop you from trading some of these explosive stocks.
It is worth noting that the indexes and some of the leading stocks are building out broadening channels. This could indicate that volatility will have to fall a bit before the next leg higher comes, which may mean some sideways action in stock, although this is no guarantee.
The best bull trends happen in markets with low and falling volatility. A long grind higher is what the bulls like to see.
Breakout Setups
As I go through the Zacks Rank list I am seeing many conducive trading setups. There are so many great stocks on the list that are steadily outperforming the market.
Some of the best trades I see out there include ARM Holdings ARM, KKR & Co. KKR, Coinbase COIN, Cleanspark CLSK, Cardinal Health CAH, and Manhattan Associates MANH.
Bottom Line
Even the best trading setups fail, so it is always important for traders to prioritize making a trading plan, following the plan, and utilizing strict risk management protocols.
Good luck this week traders!
4 Oil Stocks with Massive Upsides
Global demand for oil is through the roof... and oil producers are struggling to keep up. So even though oil prices are well off their recent highs, you can expect big profits from the companies that supply the world with "black gold."
Zacks Investment Research has just released an urgent special report to help you bank on this trend.
In Oil Market on Fire, you'll discover 4 unexpected oil and gas stocks positioned for big gains in the coming weeks and months. You don't want to miss these recommendations.
Download your free report now to see them.
Get the latest research report on CAH - FREE
Get the latest research report on ARM - FREE
Get the latest research report on KKR - FREE
Get the latest research report on MANH - FREE
Get the latest research report on CLSK - FREE
Get the latest research report on COIN - FREE