00:00 Saturday Market Overview
00:41 S&P 500 Uptrend Continues
01:41 Nasdaq Choppy But Bullish
02:55 Russell 2000 Showing Strength
03:56 Weekly Chart Messy
05:02 Breakouts to Watch
06:00 Semiconductor Alignment
06:57 Biotech Needs Rest
07:57 Financials Overextended
08:35 Energy Still Weak
09:16 Ethereum Behaves As Expected
In this most recent discussion by Brian Shannon from Alphatrends.net, prevailing trends in the US equities market are examined. A positive week was observed for the equities with Russell significantly leading the way with an increase of 1%. Key sectors were Biotech stocks demonstrating relative strength and the Energy Department recording lower figures. Specific mention was also made of the S&P 500 maintaining a strong uptrend. This, Shannon suggests, offers potential for short-term selling if there is a downturn in intermediate and longer-term trends - though the current trend favors buyers, particularly if the price remains above 453-454.
The Nasdaq has also remained robust, maintaining position above the 1020, 30, and 40-week moving averages which is indicative of a bull market. The market has experienced some pullback but this was temporarily; buyers have regained control. According to the summary, the discussions emphasize maintaining alignment with current trends - buying in a primary uptrend and avoiding shorts, given the prevalent bullish conditions.
Individual stocks highlighted for performance include Signet Jewelers, experiencing a surprising breakout from stage one accumulation, and INVA, which is performing well. Other potentially promising stocks mentioned include Hive (a cryptocurrency miner), ISRG and Amgen.
Less positively, Shannon noted that the Energy sector, including oil, continues to struggle, seeing lower numbers and experiencing a lower low in the previous week. Despite this, the weekly summary suggests that the overall markets are strong and that the current trends favor buyers with positive outlooks for most index sectors.