Good MorningThe major indices made a solid rebound on Thursday but the market isn’t out of the woods yet. The move was led by the tech-heavy NASDAQ composite and is more about hope than anything else. The NASDAQ gained a little more than 2.0% in hopes that Apple, Amazon, and the rest of the FAANG names will continue to deliver results. The bad news for traders is that Thursday’s move failed to regain key price levels above the 30-day EMA’s for all the major averages.
Looking forward, next week is going to be chock filled with volatility. Not only is the VIX still above the last high but next week is the Presidential election. On top of that, it’s the turn of another month and that will bring the all-important non-farm payroll report. Although the labor market still has a long way to go the signs are good that hiring was robust in October.
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Investors that have been following the alternative energy industry have likely noticed that it has been one of the strongest performing sectors this year. What’s even more interesting is that many alternative energy stocks are rallying even though the pandemic has resulted in business disrup... Read the Full Story >> |
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Markets | | Despite being an athletic apparel company and very much not a Silicon Valley tech stock, Lululemon (NASDAQ: LULU) has certainly been acting like one for much of 2020. From March through August, shares rallied close to 200%, matching the likes of Apple’s (NASDAQ: AAPL) and Advanced Micro Device... Read the Full Story >> |
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Markets | | Data from the manufacturing, shipping, and packaging industries all point to a sustained rebound with or without added stimulus and that can be seen in Automatic Data Processing’s (NASDAQ:ADP) 3rd quarter results. Read the Full Story >> |
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Markets | | Topping Or Going Parabolic? I Say Topping Out
It was about two months ago that my colleague Jea Yu wrote an article about the S&P 500 (NYSEARCA:SPY) speculating on its next big move. In his article he laid out a great case for whey the index would either top out or go parabolic and at the time ... Read the Full Story >> |
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Markets | | Colgate-Palmolive (NYSE: CL) is set to report its Q3 2020 earnings tomorrow. A surging number of COVID-19 cases and uncertainty surrounding the upcoming election has the S&P 500 approaching correction territory – defined as a 10% drop. Read the Full Story >> |
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