Tom reviews both the S&P 500 and NASDAQ 100, identifying the critical areas of support that he's watching. He then breaks down the underperforming communication services sector, particularly the internet industry, before wrapping up the show with a key earnings report this afternoon and the 3 You Must See.
Tom discusses the current back-and-forth action, providing key levels of support and resistance on the S&P 500 and NASDAQ. He then explores the industry group leadership since the Q4 rally began. Tom shares a little-known secret about the StockCharts Technical Rank (SCTR), before wrapping up the...
Tom discusses Wednesday's action and the possible impact of options expiration week, sending prices lower. Sentiment, as Tom points out, has reset from earlier this year, and could prompt a massive rally ahead. After reviewing a few earnings reports, Tom wraps up the show with the 3 You Must See.
Tom recaps the action from Monday, highlighting the profit taking that took place. Overall action, however, remains quite bullish and an unexpected group - home construction ($DJUSHB) - could lead the way. Tom explains his strategy here and provides a simple scan at StockCharts.com to highlight...
