Stock Market Bounces Sharply As Oil Falls Below $100 - This is a bullish signal!
The Nasdaq composite and S&P 500 opened with losses of roughly 2% but battled back to erase most of the damage or even finish higher. The S&P 500 rose 0.2% and closed at session highs. Energy stocks and some cyclicals suffered severe losses.
Overall, Tuesday's session was a good step in the right direction for the bulls. This is nuanced but action under the hood was constructive and the Nasdaq looks to have had an accumulation day albeit on below avg volume.
Watch out for valid Follow-Through-Days (according to IBD's definition) which would be a further bullish indication.
Here is the link to our updated watchlist:
www.tradingview.com/...watchlists/75013711/
Keep an eye on the sectors health technology and retailers. Many stocks in these sectors are setting up low risk entry points, or even have broken out already. These sectors might be leading the next bull market cycle.
Risk remains high in the current stock market environment so take one step after the other before you significantly increase exposure. Apply the concept of progrssive exposure and only step up if the first pilot buys are working.
The Nasdaq composite and S&P 500 opened with losses of roughly 2% but battled back to erase most of the damage or even finish higher. The S&P 500 rose 0.2% and closed at session highs. Energy stocks and some cyclicals suffered severe losses.
Overall, Tuesday's session was a good step in the right direction for the bulls. This is nuanced but action under the hood was constructive and the Nasdaq looks to have had an accumulation day albeit on below avg volume.
Watch out for valid Follow-Through-Days (according to IBD's definition) which would be a further bullish indication.
Here is the link to our updated watchlist:
www.tradingview.com/...watchlists/75013711/
Keep an eye on the sectors health technology and retailers. Many stocks in these sectors are setting up low risk entry points, or even have broken out already. These sectors might be leading the next bull market cycle.
Risk remains high in the current stock market environment so take one step after the other before you significantly increase exposure. Apply the concept of progrssive exposure and only step up if the first pilot buys are working.
Combing the BEST of two WORLD's: Cathie Wood & Mark Minervini
