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.
More Upside Expected in Stocks
Although last week we saw the market breakout and charge higher, stocks are entering one of the most bullish seasonal periods of the year. The last two weeks of the year are well known as the Santa Claus rally. Seasonal trends are no guarantee though, and following such a powerful move last week is keeping my expectations for the year end rally a bit more grounded, as stocks bump into very overbought territory.
Image Source: TradingView
Inflation Data
It is a rather quiet week regarding economic data, with minimal major releases until the end of the week. On Thursday, we will get the final revisions of Q3 GDP, which is expected to come in at an impressive 5.3%. Then on Friday, PCE and Core PCE inflation, which is the Fed’s preferred measure of inflation, comes out.
Technical Setups
Because last week was such a strong one, many momentum stocks have broken out already. Nonetheless, I have identified three such stocks that I think will perform well into the year end. Two of them are technology stocks and one is and energy stock.
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: Seasonal Strength into Year End
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.
More Upside Expected in Stocks
Although last week we saw the market breakout and charge higher, stocks are entering one of the most bullish seasonal periods of the year. The last two weeks of the year are well known as the Santa Claus rally. Seasonal trends are no guarantee though, and following such a powerful move last week is keeping my expectations for the year end rally a bit more grounded, as stocks bump into very overbought territory.
Image Source: TradingView
Inflation Data
It is a rather quiet week regarding economic data, with minimal major releases until the end of the week. On Thursday, we will get the final revisions of Q3 GDP, which is expected to come in at an impressive 5.3%. Then on Friday, PCE and Core PCE inflation, which is the Fed’s preferred measure of inflation, comes out.
Technical Setups
Because last week was such a strong one, many momentum stocks have broken out already. Nonetheless, I have identified three such stocks that I think will perform well into the year end. Two of them are technology stocks and one is and energy stock.
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!