Good MorningUncertainty gripped the market again on Wednesday causing the major indices to give up early gains. The tech sector led the move. The NASDAQ Composite gave up more than 2.0% at the low of the day and this may just be the beginning. The reason is simple; negotiators on Capitol Hill have yet to indicate consensus on a stimulus deal that has been very slow in coming.
Technically speaking, Wednesday’s price action spells bad news for the bulls. The charts are showing Dark Cloud Covers for all three of the major indices, signals that are echoed by other indicators. Traders and investors should expect to see at least a little more downside if not a full-blown correction. The next major target for support for the NASDAQ Composite is near 12,000 or about 2.75% below Wednesday’s closing price.
Featured: The case for trading fewer setups, not more (Ad) 
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Retail/Wholesale | |
After hitting an all-time high of $393.15 on November 30th, Costco (NASDAQ:COST) stock went on a five-day losing streak retreating to its 50-day moving average. This is giving investors a chance to buy shares of the warehouse retailer before moves on to another record high. And with the company ge... Read the Full Story |
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From Our Partners | | Oracle runs 15,000 stocks through the same filter every single day, scanning for precise setups before the opening bell - no emotion, no guesswork.
Tim Bohen, Lead Trainer at StocksToTrade, is walking through this week's flagged setups and showing exactly how the scanner works in a live training right now. | | Watch the scanner in action and join the live training now |
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Markets | | Drugstore and pharmacy chain Walgreens Boots Alliance, Inc. (NYSE: WBA) stock is still underperforming the benchmark S&P 500 index (NYSEARCA: SPY) as it recovers from the panic sell-off on the Amazon Pharmacy (NASDAQ: AMZN) rollout announcement. The Company has been a major COVID-19 testing prov... Read the Full Story |
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Auto/Tires/Trucks | |
We have witnessed some truly incredible innovations in the automotive industry over the past few decades. From extraordinarily accurate navigation systems to cars powered entirely by electricity, it seems like every year the technology that powers our most common mode of transportation takes a gia... Read the Full Story |
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From Our Partners | | Every morning before the market opens, a scanner called Oracle runs through 15,000 stocks and scores the setups — so there's already a plan in place by 6:15 a.m.
Lead Trainer Tim Bohen of StocksToTrade is walking through exactly how Oracle works and how regular traders are using it in a training running right now. | | Watch the Oracle training now and see how the scanner works |
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Auto/Tires/Trucks | | Solid-state lithium battery maker QuantumScape Corporation (NYSE: QS) stock has seen its shares explode recently on the electronic vehicle (EV) mania. The momentum has spilled over to the charging stations, battery makers and even battery material suppliers that power the EVs. QuantumScape went publ... Read the Full Story |
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Consumer Discretionary | | Education Is In High-Demand
The pandemic has changed the way we live. We aren’t getting our food or our recreation the ways we used to. Our shopping habits are different. We work more from home when we can. And we are getting our education in different ways. And this is opening up an opportun... Read the Full Story |
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From Our Partners | | The U.S. government has taken roughly a 10% stake in Intel, negotiated a 15% cut of Nvidia and AMD chip sales to China, and reportedly received a 5% ownership offer - worth around $40 billion - from the most valuable AI company on earth.
Porter Stansberry calls it the New U.S.A.I. - a state-backed arrangement where Washington and a handful of tech giants are fused at the balance sheet. A small number of companies get pulled inside. Everyone else gets frozen out, including names sitting in your index fund right now. | | Watch the documentary to see which companies are on the right side |
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Markets | | It Is Time To Buy Some More Thor Industries
If you don’t already have some Thor Industries (NYSE:THO) in your dividend-growth/income portfolio it’s time to start picking some up. The coming is riding a wave of demand that is going to drive revenue and profits for the next two years at l... Read the Full Story |
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Auto/Tires/Trucks | | Is there anything that can hold Tesla (NASDAQ: TSLA) stock down right now? Typically when a company raises more money from an additional stock offering, shares see some weakness creep in as their value is diluted, on paper at least. Not so for the company of Mr. Musk, which finished the day up more ... Read the Full Story |
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Technology | | The Analysts Are Leading The Market Higher
The analyst's upgrades keep rolling in and they are leading the market higher. The good news is that results continue to outpace the analyst's consensus estimates which means the upgrades will keep coming in. Among the latest news is warming sentiment in... Read the Full Story |
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Consumer Staples | |
This year, we are witnessing sweeping changes that are driving growth across multiple industries thanks to the global pandemic. This has presented some truly unique investing opportunities as certain companies capitalize on the latest market trends. That includes the pet industry, which is benefit... Read the Full Story |
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Consumer Discretionary | | Outdoor footwear and apparel manufacturer Wolverine World Wide, Inc. (NYSE: WWW) stock has finally regained its February pre-COVID price levels but is still underperforming the benchmark S&P 500 index (NYSEARCA: SPY). This leaves more upside for the shares compared to competitor Deckers Outdoors... Read the Full Story |
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The Early Bird Stock Of The Day Equitable Holdings, Inc., together with its consolidated subsidiaries, operates as a diversified financial services company worldwide. The company operates through six segments: Individual Retirement, Group Retirement, Investment Management and Research, Protection Solutions, Wealth Management, and Legacy. The Individual Retirement segment offers a suite of variable annuity products primarily to affluent and high net worth individuals. The Group Retirement segment provides tax-deferred investment and retirement services or products to plans sponsored by educational entities, municipalities, and not-for-profit entities, as well as small and medium-sized businesses. The Investment Management and Research segment offers diversified investment management, research, and related services to various clients through institutional. The Protection Solutions segment provides life insurance products, such as VUL insurance and IUL insurance, term life, and employee benefits business, such as dental, vision, life, as well as short- and long-term disability insurance products to small and medium-sized businesses. The Wealth Management segment offers discretionary and non-discretionary investment advisory accounts, financial planning and advice, life insurance, and annuity products. The Legacy segment consists of the capital intensive fixed-rate GMxB business that includes ROP death benefits. The company was formerly known as AXA Equitable Holdings, Inc. and changed its name to Equitable Holdings, Inc. in January 2020. Equitable Holdings, Inc. was founded in 1859 and is based in New York, New York. | | View Today's Stock Pick |
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