Today's action bolstered our long term buy signal issued last Thursday August 4. As I said several weeks ago... it's time to start looking for the new market leaders as they bottom first and offer the best potential for big gains. https://t.co/7NiHKuPACd
Is this the point in the market cycle where everyone is talking on how bad things are going to get with a recession, inflation, housing, and unemployment….. and the market starts to base and the leaders begin to break out?
Keep an open mind.
Mega caps that closed above 50-day moving average on Friday: $APPL $MSFT $GOOG $AMZN $TSLA $V
Don't be surprised if we get a strong bear market rally over the next couple weeks.
@CalebFranzen Could have some legs. $MSFT $GOOG $MSFT all closed week above 50-day moving average, same with $IGV. $XLE found support at 200-day, so energy (leading industry most the year) hasn't completely broken down. Healthcare and solar looking like new leaders. Capitulation in $ARKK $IBB?