Market Outlook and Focus List 4/2

Hi everyone,

I hope you are doing well!

In this post I’ll concisely share my thoughts on the market health and my focus list for next week. If you find it useful please make sure you are subscribed!

This article is brought to you by Deepvue. The platform that I use as my daily driver for screening, charting, and alerts.

Now let’s dive in ↓

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Market Trends

The QQQ (Nasdaq 100 ETF) remains above all the moving averages, after basing on top of the 200 DMA. We have now been up 3 days strongly in a row. Some sideways action would be constructive.

The Russell 2000 looks quite a bit weaker although it is held back by financial stocks. It has retaken the 21 ema after a strong upside reversal on 3/24

Leading Groups

Semiconductors in particular and technology stocks in general remain the strongest. Homebuilders have also shaped up. Precious metals have also stood out and Biotech remains a strong group.

Stock Market Outlook

My current view is that the market has shown it’s resilience. Looking through charts this weekend their were many continuation moves and breakouts from first mature bases off the bottom.

Some sideways action and drifts lower would be constructive after the moves to end last week.

Focus List

In addition to the leaders here are the stocks in focus for early next week: BMEA EXAS FSLR INDI LULU MAXN MKTX ON ONON

Here is my wider watchlist of stocks to watch this week. Many of whom are a bit short term extended albeit strong.

AI ALGM AXON BMEA CDNS CERT DUOL ELF EXAS FOUR FSLR INDI IOT KBH LULU MAXN MKTX NVDA OKTA ON ONON RMBS RVNC SKIN SKY SMAR SPOT SQSP SWAV TER TSLA ULTA WDAY XPOF

Let me know in the comments what is on your list!

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Have a great weekend!

Richard