We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
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.
Stocks Can’t Stop, Won’t Stop
After the incredible rally from the October lows, equities continued higher after barely taking a breather. Leading stocks continued to break out, and the stock indexes inched towards YTD highs. At this point it seems very little stands in the way of a powerful year-end rally.
On the flip side, the market is definitely extended at this point, and I would not be surprised to see some sideways action as the market corrects in time, rather than price. I would welcome any rest in the equities rally, as it would provide investors with the opportunity to buy shares into this year-end rally.
Image Source: TradingView
Economic Calendar
There are a ton of Fed member speeches sprinkled throughout the week, which can always shake things up. Because they have a month until the next FOMC meeting, they often use this downtime to further shift interest rate policy with rhetoric.
Also on the docket is inflation data. On Tuesday morning, the is CPI and Core CPI data to keep an eye on. The annual Core inflation rate is expected to be 4.1%, which is still too high for policymakers to sit comfortably. Then on Wednesday morning, we get more inflation data in the form of PPI and Core PPI.
On Thursday, the weekly initial jobless claims will be released. This is a figure we continue to watch and have seen slowly tick up above 200,000 over the last few weeks. This week is projected to see 222,000 initial claims, which would confirm a trend continuation.
This week, we are taking a look at a gambling stock, an integrated oil producer, and a mid-cap technology company. All stocks enjoy top Zacks Ranks.
Many of the stocks we have looked at over the last few weeks have broken out and rallied since we shared. I had to look quite extensively to find these setups as so many have already made their moves.
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!
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Momentum Monday: Santa Clause Rally Has Begun
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.
Stocks Can’t Stop, Won’t Stop
After the incredible rally from the October lows, equities continued higher after barely taking a breather. Leading stocks continued to break out, and the stock indexes inched towards YTD highs. At this point it seems very little stands in the way of a powerful year-end rally.
On the flip side, the market is definitely extended at this point, and I would not be surprised to see some sideways action as the market corrects in time, rather than price. I would welcome any rest in the equities rally, as it would provide investors with the opportunity to buy shares into this year-end rally.
Image Source: TradingView
Economic Calendar
There are a ton of Fed member speeches sprinkled throughout the week, which can always shake things up. Because they have a month until the next FOMC meeting, they often use this downtime to further shift interest rate policy with rhetoric.
Also on the docket is inflation data. On Tuesday morning, the is CPI and Core CPI data to keep an eye on. The annual Core inflation rate is expected to be 4.1%, which is still too high for policymakers to sit comfortably. Then on Wednesday morning, we get more inflation data in the form of PPI and Core PPI.
On Thursday, the weekly initial jobless claims will be released. This is a figure we continue to watch and have seen slowly tick up above 200,000 over the last few weeks. This week is projected to see 222,000 initial claims, which would confirm a trend continuation.
This week, we will also get a handful of retail quarterly earnings releases, which include Walmart (WMT - Free Report) , Home Depot (HD - Free Report) , Target (TGT - Free Report) , The TJX Companies (TJX - Free Report) , and Ross Stores (ROST - Free Report) .
Technical Setups
This week, we are taking a look at a gambling stock, an integrated oil producer, and a mid-cap technology company. All stocks enjoy top Zacks Ranks.
Many of the stocks we have looked at over the last few weeks have broken out and rallied since we shared. I had to look quite extensively to find these setups as so many have already made their moves.
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!