Market Review+Core Position Analysis (26/02-01/03)
Last week in review 👉🏻Market Review+Core Position Analysis (20/02-23/02 2024)
“Regardless of one person's opinion, the market always has the final say.” -Mark.Mivervini
A quick review of this week's market behavior:
$NASDAQ 100 Index(.NDX.US$ Fundraising on Thursday;
$S&P 500 Index(.SPX.US$ Fundraising on Thursday;
$Dow Jones Industrial Average(.DJI.US$ Monday was divided, week was divided.
NDX > SPX > DJI
The market is still switching between medium and large growth stocks (AI, semiconductors, technology) and market breadth this week, and the pace of the previous few weeks continues; as can be seen from the daily chart, this upward trend since the beginning of November last year has climbed upward using 30MA as an insurance line, which is very guiding.
NDX and SPX weekly charts: NDX created ATH again after stepping back on 10MA, while SPX has clearly surpassed the upper edge of the upward trend line, and sideways or pullbacks have become the likely next course of action.
This week's increase QQQ>QQQE shows that high-weight growth stocks are superior to mid-sized growth stocks; RSP>SPY shows that the overall market performance is superior to that of the S&P 500.
The 30-week EMA continues to rise, and the upward trend is still valid.
In terms of market sentiment: AAII and Fear & Greed Index continue to fluctuate within the range. It is worth noting that the AAII bear-watching ratio has reached a recent low.
Core position analysis 👇
$NVIDIA(NVDA.US$ In the 8th week after the major VCP base broke through, it continued to rise for 8 consecutive weeks; the daily chart experienced 4 days of adjustments, then continued to return to an upward climbing rhythm. Up to now, there have been no bad behaviors since breaking through the base (other than squatting a few days before the earnings report). Patiently wait for some specific behaviors, prepare to start cutting back within the next 2-3 weeks, and keep riding 🚴🏻
$Meta Platforms(META.US$ As always, it is stable, and almost no problems can be singled out. After 3 consecutive days of trading volume drying up on the daily chart, the price gradually climbed out of the long step above the profit gap, and there was even a small gap in the middle. At the same time, 21MA caught up and was close to 10MA, which potentially continued to push up the price pattern; the weekly chart was very stable, and 10MA slowly caught up, narrowing the gap with the current price. The trading volume has been small in the past two weeks, showing that the current differences are very small. Like NVDA, I will wait patiently for some special actions within the next 2-3 weeks. Cuts have been made, currently Keep riding 🚴🏻
$Palantir(PLTR.US$ Although the SP500 did not enter the SP500 on Friday, which triggered some emotional sell-off (-3.83% after the market), I wasn't too worried; 21MA gradually caught up on the daily chart, and the current price (after market) is around 10MA. We will check the price response and trading volume in that range later; on the weekly chart, after the profit break through the week, the trading volume has been relatively calm for three consecutive weeks. Currently, the momentum provided by that huge green candle and huge trading volume is still valid, keep riding 🚴🏻
$Celsius Holdings(CELH.US$ This week's EPS report fell short of expectations, sales exceeded expectations, and future prospects were good. Typical divisive financial reports often accompanied opportunities, so I continued to keep an automatic purchase order of $70 (market price stop-loss order), which automatically triggered the price within 1.5 hours after opening. After the transaction reminder sounded, I turned on my phone and watched for a while to confirm the protection order, then I could get busy with other things. After closing, I looked at the volume to confirm its breakthrough effectiveness, and a regular breakout purchase transaction was completed every week; Confirmation of transaction volume, currently Keep your stop loss at break-even and start riding 🚴🏻
$Applovin(APP.US$ It screwed up a few trades before its huge VCP breakthrough. I want to try it out again this week. I want to use the inertia brought by the momentum of the previous big base breakthrough to see if it was profitable. The stop loss was a red line. The huge volume on Thursday and the 10MA test was completed. The stop loss was a red line. The huge volume on Thursday closed above the small consolidation range; Weekly chart: Currently, the advantages of the chart and trading volume still exist. Currently, use it as the beginning of the trend band and start riding 🚴🏻
$CrowdStrike(CRWD.US$ I've been riding it for more than 4 months now, and there will be financial reports next week. If there is abnormal behavior before the earnings report, I still plan to hold it for a long time as a long-term psychological experience test; the daily chart currently almost crosses 10MA and 21MA, and ZS's earnings report in the same industry has once again triggered an emotional sell-off. The previous PANW earnings report was the same. Currently, I am mentally prepared for its potential downward gap. Given its strong performance over the market in August/October last year, I will be more patient. The weekly chart is still above the huge teacup, and the 10MA has caught up and kept riding for a longer time 🚴🏻
Core position performance this week:
QQQ: +2.02%
NVDA:+4.39%
META:+3.77%
PLTR:+8.53%
CELH:+23.76%
APP:+8.49%
CRWD:+1%
Core position YTD performance:
QQQ: +8.81%
NVDA:+66.15%
META:+42.06%
PLTR:+45.2%
CELH:+45.4%
APP:+56.24%
CRWD:+23.22%
Date of the recent peak price intensity of core positions:
NDX: 19/12/2023
NVDA:05/02/2024
META:02/02/2024
PLTR:12/02/2024
CELH:29/02/2024
APP:16/02/2024
CRWD:15/12/2023
Current share of cash: 5.64%
“In the stock market, what looks cheap may actually be expensive, and what seems expensive or too expensive may become the next best-performing stock.” -Mark Minervini
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
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