2023-11

It’s Ross Givens here, back with the Chart of the Day. Diving into the dynamic world of Deckers Outdoor (DECK), I dissect its compelling price action. Following a staggering 30% post-earnings surge, the stock gracefully consolidated for three weeks—a textbook example of a shallow pullback. The breakout moment arrived on Monday morning at the yellow line, signifying a prime buying opportunity as supply had already been absorbed.

It’s Ross Givens here, back with the Chart of the Day. Diving into the dynamic world of Deckers Outdoor (DECK), I dissect its compelling price action. Following a staggering 30% post-earnings surge, the stock gracefully consolidated for three weeks—a textbook example of a shallow pullback. The breakout moment arrived on Monday morning at the yellow line, signifying a prime buying opportunity as supply had already been absorbed.

It’s Ross Givens here, back with the Chart of the Day. Observing the Nasdaq 100's ascent to a 52-week high, I delve into the intricacies of major indexes, focusing on the S&P 500. Historical patterns reveal that significant levels of support and resistance are rarely swiftly surpassed. The current challenge lies at the crucial 460 level on the SPY, a battleground with a history of transforming from resistance to support. As we approach this key juncture, the process of digesting previous sellers may unfold over the next few weeks, shaping the trajectory for a potential rally into new highs.

It’s Ross Givens here with the Chart of the Day. Soaring to new heights, the Nasdaq 100 index, comprising the top 100 companies on the Nasdaq, has reached a 52-week high, edging just over 4% away from the November 2021 peak. While a sustainable bull market demands broader small-cap participation, this robust performance by tech giants is a potent signal that can't be overlooked. Ignoring this powerful indicator comes at your own peril, hinting at exciting possibilities in the market landscape. Join me as we dissect the implications of Nasdaq's climb and explore the dynamics shaping our investment outlook.

It’s Ross Givens here with the Chart of the Day. In a week of flourishing markets, the S&P 500, Nasdaq, and Dow all surged, each securing substantial gains. Notably, small-cap stocks stole the spotlight, with the Russell 2000 soaring 5.4%, marking its best performance in over a year. This rally differs from recent trends, showcasing broad participation rather than reliance on a select few mega-cap stocks. Key indicators, from net new highs to moving averages, paint a bullish picture. As our TA Market Health Gauge gleams bright green, signaling a very bullish environment, I delve deeper into the insights of the week ahead.

It’s Ross Givens here with the Chart of the Day. In a week of flourishing markets, the S&P 500, Nasdaq, and Dow all surged, each securing substantial gains. Notably, small-cap stocks stole the spotlight, with the Russell 2000 soaring 5.4%, marking its best performance in over a year. This rally differs from recent trends, showcasing broad participation rather than reliance on a select few mega-cap stocks. Key indicators, from net new highs to moving averages, paint a bullish picture. As our TA Market Health Gauge gleams bright green, signaling a very bullish environment, I delve deeper into the insights of the week ahead.

It’s Ross Givens here with the Chart of the Day. In a week of flourishing markets, the S&P 500, Nasdaq, and Dow all surged, each securing substantial gains. Notably, small-cap stocks stole the spotlight, with the Russell 2000 soaring 5.4%, marking its best performance in over a year. This rally differs from recent trends, showcasing broad participation rather than reliance on a select few mega-cap stocks. Key indicators, from net new highs to moving averages, paint a bullish picture. As our TA Market Health Gauge gleams bright green, signaling a very bullish environment, I delve deeper into the insights of the week ahead.

It’s Ross Givens here with the Chart of the Day. In a week of flourishing markets, the S&P 500, Nasdaq, and Dow all surged, each securing substantial gains. Notably, small-cap stocks stole the spotlight, with the Russell 2000 soaring 5.4%, marking its best performance in over a year. This rally differs from recent trends, showcasing broad participation rather than reliance on a select few mega-cap stocks. Key indicators, from net new highs to moving averages, paint a bullish picture. As our TA Market Health Gauge gleams bright green, signaling a very bullish environment, I delve deeper into the insights of the week ahead.

It’s Ross Givens, back with the Chart of the Day. Analyzing the S&P 500's historical performance, especially in years with a robust first-half surge, like the current one, reveals an intriguing pattern. While not an exact match, the current sideways movement mirrors past August to October trends, followed by a robust year-end rally. Daily fluctuations might be unnerving, but take solace in the historical trend favoring sustained growth. The added potential influx of trillions from sidelined money market funds signals a favorable outlook. Despite day-to-day uncertainties, rest assured, the broader historical perspective and market dynamics position us favorably in this ongoing rally.

It’s Ross Givens here with the Chart of the Day. Unveiling the intriguing dynamics of the small-cap Russell 2000 index, I've identified not one, but two compelling head-and-shoulder patterns. The classic bearish formation, breaking below the 200-day moving average, foretells a potential plunge. However, a recent twist reveals an inverse head-and-shoulder pattern, a bullish signal. The index is poised to breach the 200-day moving average 'neckline' once again.

It’s Ross Givens here with the Chart of the Day. Yesterday's S&P 500 surge propelled us beyond the stifling pattern of descending highs that plagued the market for months. Witnessing this breakthrough vividly illustrates the pent-up 'stored energy' within, eagerly awaiting the catalyst—namely, declining inflation—to propel it upward. Positioned for success, I'm thrilled about what lies ahead.

It’s Ross Givens here, back with the Chart of the Day. Diving into the AI arena, Palantir (PLTR) has been a powerhouse, surging in the first half of the year. After a consolidation phase, it's now smashing through its post-earnings pivot, aiming for unprecedented highs. I tipped off our premium members last Friday, and the trade is already reaping rewards. Yet, this could be just the tip of the iceberg—there's still ample time to ride the wave.