Strong Economic Data Dow Winning Steak Similar To Famous Pre-Crash Streaks Of The Past
Portfolio Pulse from The Arora Report
The Global X Dow 30 Covered Call ETF (DJIA) has shown a winning streak for 13 consecutive days, similar to pre-crash streaks of the past. The DJIA is leading other indexes during this streak, despite not containing all of the 'magnificent seven' stocks that have led the rally, including Apple, Amazon, Alphabet, Meta Platforms, Microsoft, NVIDIA, and Tesla. Strong economic data has been released, including Q2 GDP-Adv at 2.4% vs. 1.6% consensus, and initial jobless claims at 221K vs. 233K consensus. The European Central Bank has increased interest rates by 25 basis points.
July 27, 2023 | 2:09 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
Apple is one of the 'magnificent seven' stocks that have led the recent market rally.
Apple is one of the leading stocks in the current market rally, which could potentially impact its performance in the short term.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Amazon is one of the 'magnificent seven' stocks that have led the recent market rally.
Amazon is one of the leading stocks in the current market rally, which could potentially impact its performance in the short term.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Alphabet is one of the 'magnificent seven' stocks that have led the recent market rally.
Alphabet is one of the leading stocks in the current market rally, which could potentially impact its performance in the short term.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Meta Platforms is one of the 'magnificent seven' stocks that have led the recent market rally. There is aggressive buying in the premarket prompted by blowout earnings from META.
Meta Platforms is one of the leading stocks in the current market rally, and its recent blowout earnings are prompting aggressive buying in the premarket. This could potentially impact its performance in the short term.
CONFIDENCE 80
IMPORTANCE 80
RELEVANCE 70
POSITIVE IMPACT
Microsoft is one of the 'magnificent seven' stocks that have led the recent market rally.
Microsoft is one of the leading stocks in the current market rally, which could potentially impact its performance in the short term.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
NVIDIA is one of the 'magnificent seven' stocks that have led the recent market rally.
NVIDIA is one of the leading stocks in the current market rally, which could potentially impact its performance in the short term.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Tesla is one of the 'magnificent seven' stocks that have led the recent market rally.
Tesla is one of the leading stocks in the current market rally, which could potentially impact its performance in the short term.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50
NEUTRAL IMPACT
DJIA is on a 13-day winning streak, leading other indexes. This is similar to pre-crash streaks of the past, which could indicate a potential future downturn.
The DJIA's winning streak is similar to those seen before previous market crashes, which could indicate a potential future downturn. However, it's important to note that these streaks did not immediately result in a crash.
CONFIDENCE 70
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
The DJIA is currently leading the Invesco QQQ Trust Series 1 (QQQ) during its winning streak.
The DJIA's current winning streak is leading other indexes, including QQQ. This could potentially impact QQQ's performance in the short term.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50
NEUTRAL IMPACT
The DJIA is currently leading the SPDR S&P 500 ETF Trust (SPY) during its winning streak.
The DJIA's current winning streak is leading other indexes, including SPY. This could potentially impact SPY's performance in the short term.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50