Market News 9-7-23

Pete Renzulli September 7, 2023
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News You Can Trade 📰

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The bullish argument for NVDA at all-time highs

The Market 📈

The Dow Jones continues to show relative weakness as financials, healthcare and industrials have lost the bullish mojo. #JNJ and #JPM broke down this week amplifying the sentiment.

The #QQQ shows multiple higher lows establishing stacked order flow and validated by the number of stocks in the sector supporting the idea. 

Holding 50 sma support helps with conviction. So the 372 level is going to be big today. It’s both the 50SMA and the breakdown level from early August.

As is the case for the whole of 2023, it’s the Nasdaq that will lead us higher or lower at this moment.

#XLE, energy, sits at a big level as well. A breakout could lead to outsized gains on the stocks in the sector creeping higher.

Categories: Stock Market News
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Pete Renzulli

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