What Many Individual Stocks Are Telling Us About The Overall Market - Hint: Its All About That Base.
Portfolio Pulse from Andrew Moss
The S&P 500 is attempting to break out of a year-long base, while individual stocks like AMZN, GOOGL, SNOW, UBER, UPST, MU, and LRCX are front-running the index with sideways price action followed by upward moves. The market is focusing on inflation, recession, debt ceiling, and weak market breadth, but opportunities for profit on the long side remain.
May 22, 2023 | 7:01 pm
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Amazon's stock has experienced sideways price action followed by an upward move, potentially indicating a positive short-term impact.
The article mentions that individual stocks like AMZN are front-running the index with sideways price action followed by upward moves. This suggests that the stock may experience a positive short-term impact as it breaks out of its range.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Google's stock has experienced sideways price action followed by an upward move, potentially indicating a positive short-term impact.
The article mentions that individual stocks like GOOGL are front-running the index with sideways price action followed by upward moves. This suggests that the stock may experience a positive short-term impact as it breaks out of its range.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Lam Research's stock has experienced sideways price action followed by an upward move, potentially indicating a positive short-term impact.
The article mentions that individual stocks like LRCX are front-running the index with sideways price action followed by upward moves. This suggests that the stock may experience a positive short-term impact as it breaks out of its range.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Micron Technology's stock has experienced sideways price action followed by an upward move, potentially indicating a positive short-term impact.
The article mentions that individual stocks like MU are front-running the index with sideways price action followed by upward moves. This suggests that the stock may experience a positive short-term impact as it breaks out of its range.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Snowflake's stock has experienced sideways price action followed by an upward move, potentially indicating a positive short-term impact.
The article mentions that individual stocks like SNOW are front-running the index with sideways price action followed by upward moves. This suggests that the stock may experience a positive short-term impact as it breaks out of its range.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Uber's stock has experienced sideways price action followed by an upward move, potentially indicating a positive short-term impact.
The article mentions that individual stocks like UBER are front-running the index with sideways price action followed by upward moves. This suggests that the stock may experience a positive short-term impact as it breaks out of its range.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Upstart's stock has experienced sideways price action followed by an upward move, potentially indicating a positive short-term impact.
The article mentions that individual stocks like UPST are front-running the index with sideways price action followed by upward moves. This suggests that the stock may experience a positive short-term impact as it breaks out of its range.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80