With a largely anticipated earnings week coming up we are mainly looking at market sectors that affect the Dow Jones Industrial Average (YM). Pay attention to the rotation that could potentially happen as large banks like Wells Fargo and Goldman Sachs kick off the earnings week (and also the potential rotation after their earnings report). Keep a side eye on the Taiwan Semiconductor Manufacturing Company (TSMC) to see if there is any additional impact on the chip sector affecting the Dow Jones. While technology could continue higher we should see some rotation, depending on how earnings go, which should send the YM higher. Overall, be ready for earnings, Federal Reserve news, and potential rotation!
Here is our Focused List:
GOOGL – If breaks all-time high (ATH) can work its way toward 2,580. Relatively strong for technology
ROKU – Nice bounce off the daily mean. Watching a squeeze and push toward 445 to 463
SNOW – Firing daily squeeze. Watching 1-hour squeeze to fire and continue through 272 to 280
NVDA – Perfect bounce off daily Ichimoku Cloud. See if it can carry momentum toward ATH. All eyes on stock split next week
Stay Focused!