The NASDAQ Outlook
- Short term trend, next 4 weeks = slightly extended,
- Intermediate term trend, 4 weeks to 3-4 months = up
- Long term trend, 4 months to 1 year = up
A few names are working but most breakout attempts are met with limited volume and weak follow up buying.
This remains more of an investors market.
Current True Market Leaders (TMLs): but extended or not buyable
Current Best buy ideas, Not TMLs but offering a legitimate buy point:
- AFRM @$101.5+ (They reported and gapped up after Thursday’s close)
- GNRC @$459+
- PLTR @26.0 & @$27.60
- MELI out but no volume or follow through.
- AXON @$194.10 & 198.10+
- DVN @$30.5
- CMG=Very tight. Slower name
- COIN over $281+
- CRM @$276
- CRWD came out but has gone dormant. Like MELI
- FSLR is a good example of the lackadaisical summer weak action, not blowing up but hard to
make $$ buying breakouts.
- RH looks a lot like DOCU on earnings day. Massive volume but couldn’t make a new high = caution.
- AMBA & LULU came out today.
- DASH finally attracted high volume on its move out. Extended now.
I remain Extremely bullish on Bitcoin (BTC) & Ethereum (ETH) intermediate term but short term crypto needs a bit of