Corporate earnings have come in stronger than expected, helping lift market sentiment – despite the Fed waffling on the timing of expected rate cuts.
So let’s see how that has been affecting the direction of the major indexes.
The Daily Direction
Note: All indexes – save the Russell 2000 – closed higher yesterday. No change in any index directions, though the Russell 2000 is close to seeing its medium-term direction flip downward.
The Daily Nugget
Never forget that the indexes are just weighted averages.
When people talk about “the market”, they usually refer to the movement of the major indexes.
This is to be expected – it is the most convenient way to discuss market movements after all.
But never forget that the market is just the composite movement of thousands of individual stocks…
And these individual stocks don’t necessarily move in sync with one another.
That’s why even though the major indexes look likely to hit a pullback very soon…
There are still plenty of opportunities in individual stocks – especially if you target the market leaders that could be already emerging from their pullbacks into new breakouts.
And to discover the stealth force that turns ordinary stocks into market leaders – plus Ross Givens’ top strategy for targeting them…
The Traders Agency Team