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Tariff Turbulence and Overbought Tech Mark Post-Holiday Trading
Wall Steet was mixed to start post-holiday week trading, seesawing on renewed tariff uncertainty and tariff threats from US President Donald Trump. On Tuesday, the major indices traded in a narrow range as trading volumes declined.
For example, the tech-heavy Nasdaq 100 Index ETF gained .06% while volume fell 23% versus the 50-day average. Meanwhile, some rotation forces have carried over from last week as the once-lagging small caps outperformed, with the Russell 2000 Index ETF gaining 0.70% for the session.
Though the bulls remain in control of the market’s direction, there are some short-term caution flags to watch for, including:
The Nasdaq is Overbought: According to the Williams % Range and several other technical metrics, tech stocks are overbought on the short-to-intermediate-term time frames.
Distance from the 10-day Moving Average: QQQ has not tagged its short-term moving average 10-day exponential moving average for ten consecutive sessions, and counting.The 10-day streak above the 10-day moving average is the longest such streak of 2025.
Sentiment has Flipped Bullish: The ‘CNN Fear/Greed Indicator’ has reached the ‘Extreme Greed’ level for the first time in 2025. Remember, bull markets like to climb the proverbial ‘Wall of Worry.’ When everyone has turned bullish, making significant gains can be difficult for the market, without at least ‘shaking the tree.’
The above metrics are secondary indicators and do not mean that investors should get bearish on the market. However, they do mean that there will likely be better areas that investors can find to buy stocks. Beyond price, one bullish thing to watch is that the market has been remarkably resilient in the face of the latest tariff uncertainty. Early in 2025, tariff headlines would send stocks down 1% or more in a single session. Lately, such headlines have led to slight intraday declines that bulls quickly bought up.
Stocks on the Move
‘Ethereum treasury’ stocks like SharpLink Gaming are on the move. Crypto stocks such as stablecoin issuer Circle Group and Coinbase Global should be watched ahead of the Republican-led ‘Crypto Week’ next week. M&A activity is increasing in 2025. Utility company AES is up in early trading as the company explores a potential sale. Meanwhile, biotech giant Merck is buying Verona in a $10 billion deal.
Research Chief Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.
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Zacks Investment Ideas feature highlights: QQQ, IWM, SBET, CRCL, COIN, AES, MRK and VRNA
For Immediate Release
Chicago, IL – July 10, 2025 – Today, Zacks Investment Ideas feature highlights Nasdaq 100 Index ETF (QQQ - Free Report) , Russell 2000 Index ETF (IWM - Free Report) , SharpLink Gaming (SBET - Free Report) , Circle Group (CRCL - Free Report) , Coinbase Global (COIN - Free Report) , AES (AES), Merck (MRK - Free Report) and Verona (VRNA - Free Report) .
Tariff Turbulence and Overbought Tech Mark Post-Holiday Trading
Wall Steet was mixed to start post-holiday week trading, seesawing on renewed tariff uncertainty and tariff threats from US President Donald Trump. On Tuesday, the major indices traded in a narrow range as trading volumes declined.
For example, the tech-heavy Nasdaq 100 Index ETF gained .06% while volume fell 23% versus the 50-day average. Meanwhile, some rotation forces have carried over from last week as the once-lagging small caps outperformed, with the Russell 2000 Index ETF gaining 0.70% for the session.
Though the bulls remain in control of the market’s direction, there are some short-term caution flags to watch for, including:
The Nasdaq is Overbought: According to the Williams % Range and several other technical metrics, tech stocks are overbought on the short-to-intermediate-term time frames.
Distance from the 10-day Moving Average: QQQ has not tagged its short-term moving average 10-day exponential moving average for ten consecutive sessions, and counting.The 10-day streak above the 10-day moving average is the longest such streak of 2025.
Sentiment has Flipped Bullish: The ‘CNN Fear/Greed Indicator’ has reached the ‘Extreme Greed’ level for the first time in 2025. Remember, bull markets like to climb the proverbial ‘Wall of Worry.’ When everyone has turned bullish, making significant gains can be difficult for the market, without at least ‘shaking the tree.’
The above metrics are secondary indicators and do not mean that investors should get bearish on the market. However, they do mean that there will likely be better areas that investors can find to buy stocks. Beyond price, one bullish thing to watch is that the market has been remarkably resilient in the face of the latest tariff uncertainty. Early in 2025, tariff headlines would send stocks down 1% or more in a single session. Lately, such headlines have led to slight intraday declines that bulls quickly bought up.
Stocks on the Move
‘Ethereum treasury’ stocks like SharpLink Gaming are on the move. Crypto stocks such as stablecoin issuer Circle Group and Coinbase Global should be watched ahead of the Republican-led ‘Crypto Week’ next week. M&A activity is increasing in 2025. Utility company AES is up in early trading as the company explores a potential sale. Meanwhile, biotech giant Merck is buying Verona in a $10 billion deal.
Research Chief Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.
Free: See Our Top Stock And 4 Runners Up
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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.