Nasdaq Running out of Steam?

J

John9999

HMMM... here we are at 7460 again , like end of July and just cannot make it over and stay over. I am still long from 7374, but I dunno. Maybe the buyers are all in and there just isn't anymore buying activity to fuel us further. Not sure if the stock buy backs will help NAS or not..

Opinions please??
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Pick your chart today at 10:06. All I saw today was buyers...and the shorts haven't even started to hit their stops yet. Big components and good companies are making new highs.
 
The issue I see is risk with the big components are making up more and more of the NDX increases every month. The breadth continues to narrow to basically AAPL, AMZN, MSFT, and GOOGL propping the whole index up right now.

So long as these 4 stay strong, it probably keeps melting up. But one bad surprise out of this group and we see a very rapid correction.
 
MidwesternTrader said:
The issue I see is risk with the big components are making up more and more of the NDX increases every month. The breadth continues to narrow to basically AAPL, AMZN, MSFT, and GOOGL propping the whole index up right now.

So long as these 4 stay strong, it probably keeps melting up. But one bad surprise out of this group and we see a very rapid correction.
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Agreed there...makes it cheap to hedge and easy to play.
 
don't be short sighted.

this is a technology super cycle.. AI revolution in the 3rd inning.

breadth? who gives a F.. AI needs data and these top guys have it and nobody else can compete.

valuation is also dirt cheap... SP500 is forward yielding 6% earnings... where else in the world can you find a top class asset yielding 6%, with a growth rate?

also retail is not participating..

this is a perfect scenario.
 
treeman said:
62% of the Nasdaq 100 stocks are above their 50dma. Don’t let facts stand in the way of a good narrative though.
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Since the Apr 2 low, the NDX has appreciated by 16.52%. Due to the weighted nature of the index, 70% of those gains come from 4 stocks - AAPL, AMZN, MSFT and GOOGL.

Your advanced / decline is a fact. And the 4 horseman carrying most of the weight is a fact.

I just think the 4 horsemen are more important than everyone else combined.
 
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