Weekly Stock Picks

Hey, it's Ross Givens here with the Chart of the Day. Delving into the fascinating world of market data, an intriguing pattern emerges from the Nasdaq's historical performance. Over the last 50 years, on 8 occasions where the Nasdaq followed a double-digit year with a +0.5% loss on the opening day of the next year, an interesting trend unfolded. In each case, the following week proved positive. Notably, the cases with the largest first-day drops yielded the biggest gains over the subsequent week. Far from signaling a cause for concern, a significant drop on the first day of the trading year after a winning year appears to be a harbinger of even more gains ahead.

We made it through midterms and earnings season without too much disruption, but the Nasdaq 100 is now facing a key resistance level…

After a huge move the week before, the indexes stalled. As expected, the S&P found resistance at its 200-day moving average.

Back when BTC was trading around $50,000, I wrote that the price action "looks like every other bubble we have seen for the last 500 years."

Last week was a big one for stocks...

The October rally came to an abrupt end last week. The Nasdaq 100 fell over 7%, and the S&P 500 was down about 4.5%.

The market’s ability to rally while the previous market leaders fall tells me we are likely near the bottom of this bear market.

It’s still too early to say whether the market has bottomed. But if you’re looking for stocks to buy, the energy group looks the best.

All the major indexes made new lows last week, confirming that sellers are still in control.