Nasdaq 100 Passes Technical Test; Semis’ Tough Week; Iran Spat Calms?
Let’s dive into the charts and why they point to a possible a.m. tech rally; look down at ON Semiconductor, Arm Holdings and Qualcomm; and check the latest on Iran.
Google In, Verizon Out, Nike Next?: 8 Key Items Shaping the Stock Market Monday
South Korea goes big on AI and chips, Comcast splits, Warsh on deck, and other headlines moving stocks this morning.
The Chip Story Just Got More Complicated
AI Is bouncing, but a significant shift in the market is building. Here’s what to watch.
The CNBC Panelist Said What? (Issue #4)
Position: None
So Far, So Good
Last week we took a contrarian view on the Mag 7 by purchasing shares of Microsoft ($MSFT), Alphabet ($GOOGL) and Amazon ($AMZN).
So far that has worked out well as there is renewed interest in the hyperscalers and developing weakness in the previous leadership (memory and semis).
I expect that rotation to continue in the summer and I would consider adding to the above three stocks on lower prices.
Position: Long MSFT (VS), GOOGL (S), AMZN (S)
Cannabis Hearings
Position: None
Tweet of the Day (Part Deux)
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Tweet of the Day
Position: None
Correlation Between S&P Equal Weight and S&P 500
Position: None
S&P Oscillator Remains Overbought
The S&P Short Range Oscillator remains overbought at 2.24% vs. 2.65%.
Position: None