Pete takes a look at some tech names today, diving into NYSE FANG+ Index. This index contains 10 mega-cap names along with a few top foreign tech names. After reviewing the index chart, Pete digs down into the component names.
Pete takes a look at some meme stocks of 2021 by analyzing the rise and fall on their charts, and highlights when the power gauge could have helped identify the turning points. There is one name that still looks like a good company, but the stock just got out of control.
Pete shares how the Chaikin Power Gauge plugin highlighted the ratings changes for stocks in a downside slide, while also pointing out good quality names that are oversold with a possible buy opportunity.
After a continuation of ugly days in the markets, Pete searches for relative strength in mega-cap names and focuses in on the semiconductor sector.
