Market Review+Position Analysis (01/07-05/07 2024)
Last week in review 👉🏻Market Review+Position Analysis (24/06-28/06 2024)
A quick look at this week's markets:
$NASDAQ 100 Index(.NDX.US$ Attracting funds on Friday;
$S&P 500 Index(.SPX.US$ Attracting funds on Friday;
$Russell 2000 Index(.RUT.US$ Dispatched on Fridays.
NDX>SPX>RUT.
Although NDX and SPX seem very high at the moment, don't take it for granted to be bearish on the market for the following reasons 👇
MSFT and APPL are indeed overextended, and a sideways or minor correction is possible; NVDA currently has a chance of moving to the next level on a small new platform; AMZN and META have just shown strength to break through record highs; GOOG and NFLX are still moving up the first level; AMD has just broken through from the bull flag of status...
RUT currently has an extremely tight structure, and I am still optimistic that there is a chance that it will break through before interest rates are cut.
Weekly chart:
NDX and SPX are being tested at the edge of the limit and are even breaking the limit. There is a chance that this situation will continue for a few weeks until it tells us it doesn't work; the RUT is still tightly attached to 30MA and appears to be waiting for a catalyst.
Market sentiment:
This Wednesday's data showed that the ratio of watching bulls and watching bears decreased slightly at the same time, showing that market participants are beginning to have some doubts about developments in both directions.
The Fear & Greed Index has returned to a neutral range, but its breadth has not recovered, mainly due to a further increase in the popularity of the price index and options market.
Current position profit and loss and ratio:
$Marathon Digital(MARA.US$ (RS 93) $iShares Bitcoin Trust(IBIT.US$ (RS 61) $Super Micro Computer(SMCI.US$ (RS 99) Please take a look at the “Weekly Deal Summary” released yesterday
$Palantir(PLTR.US$ (RS 96) continued the upward trend of last week. After a short break on Tuesday and Wednesday, it rose sharply on Friday with a good trading volume. The closing price was almost the highest price. The current price is very close to the previous high. Follow and observe step by step. 50MA has kept up with the original stop loss, and then increased the stop loss slightly. It still hasn't completed the “pendulum effect.”
$Tesla(TSLA.US$ (RS 87) There were still over 20 RS readings a few weeks ago. The arrival of RS at 87 this week already explains everything. The Beast has awakened; it has been rising for 8 consecutive days, and the trading volume has remained at a very high level for the past 5 days. Obviously, it has entered the rhythm where I have always followed the model stock operation and continued to ride until it couldn't run.
$Shift4 Payments(FOUR.US$ (RS 78) recently tested the upper gap resistance for the second time. Did a low trading volume squat this week and seems to be constructing a new setup? Its current behavior is acceptable, the stop loss is currently unchanged, and we will continue to observe.
$Netflix(NFLX.US$ (RS 94) There are still 8 trading days until the earnings report. It continues to rise to a 52-week high this week, and it is also close to a record high. Keep watching and look for opportunities to reduce positions.
$Carvana(CVNA.US$ (RS 99) This week's trading volume has dried up and prices have become tight. This is a good setup. It may continue to operate next week based on its actions.
$Amazon(AMZN.US$ (RS 93) A name that hasn't been long since the VCP broke through. I like that it closed at an integer price of 200, which is also a record high. Since its volatility is not particularly high, you can keep riding with it now; there is no need to worry.
$Kaspi.kz(KSPI.US$ (RS 89) The first three days of this week seem to have tested the new support price because it looked neat 👀. The July 22 earnings report will see if there is an opportunity to continue cutting before the earnings report.
$TG Therapeutics(TGTX.US$ (RS 93) Trading volume has been inactive this week. Keep watching to see if it can actually move upward out of this huge base setup.
$Coherent(COHR.US$ (RS 97) Tried to go one step further on Friday, but the results were less than ideal, and further consolidation may be needed, and the stop-loss remains unchanged for now.
$Royal Caribbean(RCL.US$ (RS 94) Mark's classic trading case. After getting a profit of 3 times the stop loss, you sell half and ride with 0 pressure.
$Western Digital(WDC.US$ (RS 95) After holding it for over a month and a half, I had to accept that it is currently a “fuel tank” in my holdings, hoping to get rid of it in the short term.
$Crocs(CROX.US$ (RS 93) Another “fuel tank” that has been held for nearly a month and a half and is waiting for an opportunity to get rid of it in the short term.
$TransMedics(TMDX.US$ (RS 99) It's already a risk-free ride, but currently the RSI has been diverging for more than two months to see if it can get out of this situation in the future. If adverse actions occur, it will quickly quit.
Current cash ratio: 7.62%
Next, we will focus on 5-6 names already held, and all operations will be based on the stock's own price behavior as the core benchmark.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
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