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TECH
[1] "NVDA is in its Optimal Buying Range" [1] "AMD is in its Optimal Buying Range"
[1] "FB is in its Optimal Buying Range"
[1] "MA is in its Optimal Buying Range"
[1] "QQQ is Hot"
[1] "AAPL is Hot"
[1] "MSFT is Hott [+2.3%]"
[1] "AMZN is Hott [+3.7%]"
[1] "NFLX is Hot [+3.4%]"
[1] "TSLA is Cold [+0.4%]"
[1] "AMAT is Cold [+0.17%]"
Summary: Tech stocks seems to be in a great range to buy. My algorithm seems to be predicting a quick recovery back to our ATH. I really don't see that happening, but I am not an advanced stock picking algorithm, so I don't see as much as she does. Program Picks are not always accurate, but they are correct more times than they are wrong. If we ultimately do go into a bear market I believe we will get a lot of false buy signals from Anna Molly as she is designed to work best in bull markets, not bear markets. Regardless; this week will tell us whether or not this drop will be like February 2018 or February 2020. This market is extremely overvalued and a large correction or sharp drop can happen very easily as this market is easy to spook right now. QQQ closed on the monthly in a very bearish reversal formation so if we continue down this upcoming week it could be very bad for the market.
QQQ: The 50SMA on the daily is a crucial level for the QQQ to break over and hold. As you can see, there was massive selling pressure all week. Tuesday and Wednesday, bulls tried to take control and keep QQQ up, but on Thursday they lost the battle. On Friday it was an equal fight and the QQQ closed a little higher than it had on Thursday. So overall; this week, the bears won. If we open lower than $311 on Monday; an excessive drop would not surprise me. The last two times that the QQQ broke the 50SMA it recovered quickly, but times before that, the QQQ went all the way down to the 200sma which is currently at $282. Both the monthly and weekly charts are currently very bearish. However, the uptrend is still intact as long as QQQ can hold $305. If we are going into "bear mode" in the market, it will be characterized by lots of selling and then buying up to the 9EMA on the daily and then a continuation down. In the March 2018, October 2018, May 2019, and February 2020 drops, shorting the market at the 9EMA on the daily was successful the majority of the time. The drop was over when the 50SMA was successfully retaken and held for a few days. We will know more about what the market is going to do after we see what happens Monday. If we can hold the $311 level; we could bounce hard up to $320 and maybe even higher. But if we lose $311 it's a bad sign. If Anna Molly is right and QQQ is bullish; we could go all the way to $325/$330 this week. That's a best case scenario in my opinion.
FINANCE
[1] "XLF is in its Optimal Buying Range"
[1] "BAC is in its Optimal Buying Range"
[1] "GS is in its Optimal Buying Range"
[1] "MS is in its Optimal Buying Range"
[1] "JPM is Hot"
[1] "COF is Cold"
[1] "AXP is Cold"
Summary: Finance is at a crucial point right now. GS/BAC both need to bounce off of their 9EMA on the daily. It would be a good bounce point, however, we need strength Monday. Friday, the finance stocks closed very weak. We will see Monday if we are presented with a buying opportunity. Rising rates can be seen as great for banks, so if rates continue to rise we could potentially see a rotation from growth tech stocks to banks and other companies that perform well in a higher interest rate environment. OR we could see the whole market go lower.
TECH Trend Analysis:
SPY.Close
2021-02-26 380.36
[1] "Breakouts"
[1] "Trends:"
SPY Price is in a Two Week Downtrend
SPY Price is in a Three Month Uptrend
SPY Price is in a 100 Day Uptrend
SPY Price is in a 200 Day Uptrend
[1] "Volume Analysis:"
SPY Volume was 89.81603 % Above its 10 Day Average Volume
SPY Volume was 109.8694 % Above its 20 Day Average Volume
QQQ.Close
2021-02-26 314.14
[1] "Breakouts"
[1] "Trends:"
QQQ Price is in a One Week Downtrend
QQQ Price is in a Two Week Downtrend
QQQ Price is in a Three Month Uptrend
QQQ Price is in a 100 Day Uptrend
QQQ Price is in a 200 Day Uptrend
[1] "Volume Analysis:"
QQQ Volume was 95.8647 % Above its 10 Day Average Volume
QQQ Volume was 146.5878 % Above its 20 Day Average Volume
XLK.Close
2021-02-26 130.69
[1] "Breakouts"
[1] "Trends:"
XLK Price is in a One Week Downtrend
XLK Price is in a Two Week Downtrend
XLK Price is in a Three Month Uptrend
XLK Price is in a 100 Day Uptrend
XLK Price is in a 200 Day Uptrend
[1] "Volume Analysis:"
XLK Volume was 109.2485 % Above its 10 Day Average Volume
XLK Volume was 146.4752 % Above its 20 Day Average Volume
MSFT.Close
2021-02-26 232.38
[1] "Breakouts"
[1] "Trends:"
MSFT Price is in a One Week Downtrend
MSFT Price is in a Two Week Downtrend
MSFT Price is in a Three Month Uptrend
MSFT Price is in a 100 Day Uptrend
MSFT Price is in a 200 Day Uptrend
[1] "Volume Analysis:"
MSFT Volume was 41.95719 % Above its 10 Day Average Volume
MSFT Volume was 36.37024 % Above its 20 Day Average Volume
ADBE.Close
2021-02-26 459.67
[1] "Breakouts"
[1] "Trends:"
ADBE Price is in a One Week Downtrend
ADBE Price is in a Two Week Downtrend
[1] "Volume Analysis:"
ADBE Volume was 31.09053 % Above its 20 Day Average Volume
NVDA.Close
2021-02-26 548.58
[1] "Breakouts"
[1] "Trends:"
NVDA Price is in a One Week Downtrend
NVDA Price is in a Two Week Downtrend
NVDA Price is in a Three Month Uptrend
NVDA Price is in a 200 Day Uptrend
[1] "Volume Analysis:"
NVDA Volume was 46.82901 % Above its 20 Day Average Volume
AMD.Close
2021-02-26 84.51
[1] "Breakouts"
[1] "Trends:"
AMD Price is in a One Week Downtrend
AMD Price is in a Two Week Downtrend
AMD Price is in a Three Month Downtrend
AMD Price is in a 200 Day Uptrend
AAPL.Close
2021-02-26 121.26
[1] "Breakouts"
[1] "Trends:"
AAPL Price is in a One Week Downtrend
AAPL Price is in a Two Week Downtrend
AAPL Price is in a One Month Downtrend
AAPL Price is in a 100 Day Uptrend
AAPL Price is in a 200 Day Uptrend
[1] "Volume Analysis:"
AAPL Volume was 54.45363 % Above its 10 Day Average Volume
AAPL Volume was 60.47472 % Above its 20 Day Average Volume
AMZN.Close
2021-02-26 3092.93
[1] "Breakouts"
[1] "Trends:"
AMZN Price is in a One Week Downtrend
AMZN Price is in a Two Week Downtrend
AMZN Price is in a One Month Downtrend
AMZN Price is in a Three Month Uptrend
AMZN Price is in a 200 Day Uptrend
GOOGL.Close
2021-02-26 2021.91
[1] "Breakouts"
[1] "Trends:"
GOOGL Price is in a Two Week Downtrend
GOOGL Price is in a Three Month Uptrend
GOOGL Price is in a 100 Day Uptrend
GOOGL Price is in a 200 Day Uptrend
[1] "Volume Analysis:"
GOOGL Volume was 38.18089 % Above its 10 Day Average Volume
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