David Keller: Stocks, Sectors & Strategies for a Broader Market with New Leaders Beyond the Mag 7
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David Keller: Stocks, Sectors & Strategies for a Broader Market with New Leaders Beyond the Mag 7
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Description
David Keller is a CMT and Chief Market Strategist at StockCharts.com, as well as the man behind The Final Bar market recap show. In this podcast episode, David shares his...
show moreAs David puts it in our chat, "For stock pickers, it's a pretty ripe environment." Roughly 80% of S&P 500 names are trading above their 200-day moving averages, while around 70%-80% are trading above their 50-day MAs. Though there is one potential warning sign to watch, primary uptrends remain intact for the major averages.
David then explains that his scans of stocks making new three-month highs and new three-month lows continue to show better results in value-oriented, non-tech groups. He cites a handful of names he likes, including one particularly strong play in the gasoline retail business. On the flip side, he explains why one incredibly popular "Big Tech" stock looks to be carving out a major top. He also addresses the strength in gold and Bitcoin, noting that the weekly chart for the former looks great and the latter is clearly benefiting from the "halving."
Finally, he shares a sneak peek at the trading methodologies, process-oriented tips, and chart-reading lessons he'll cover at the Investment Masters Symposium Silicon Valley, set for May 7-9, 2024 at the Hyatt Regency San Francisco Airport. Click here to register: https://www.siliconvalleyims.com/?scode=061246
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Author | MoneyShow |
Organization | MoneyShow |
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