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Value stocks and reopening plays have been the main themes in 2021, but now the bulls seem to be returning to Big Tech and the Nasdaq-100.
The yellow histogram on this chart compares the 21-day return of NDX against the S&P 500. (It uses our Smart Relative Strength custom script.) Notice how Monday’s reading was the highest since August 27. That was immediately before the euphoric Labor Day pop when Apple and Tesla split their shares.
Even though NDX has managed to hit new highs since then, it’s mostly lagged the S&P 500. See this …
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Oracle jumped to new highs almost two months ago. Now, after a pullback, the software giant may have found support. The first pattern on today’s chart is the gap higher on March 12 after earnings surprised to the upside. ORCL retraced the move and is starting to...
Most of the big earnings reports have now occurred, and so far they've done little to boost the market. Companies like Microsoft (MSFT), Meta Platforms (META), Netflix (NFLX), Caterpillar (CAT) and Intel (INTC) reported profits above Wall Street estimates. However...
Stocks are rebounding as key earnings beat estimates and investors get comfortable with fewer rate cuts. The S&P 500 rose 2.7 percent between Friday, April 19, and Friday, April 26. The Nasdaq-100 jumped 4 percent. Those were the biggest weekly gains for both...