Nasdaq Leading The Bull Run With Big Tech Stocks
25% gain from taking calls to break all time high on Thursday. Once again, the tech stocks are taking the charge upwards to form a higher high channel. ⚠️ Looking at calls above 341 and puts under 337.5 on Friday. PCE data releases at 8:30am.
With only seven days to go before the United States faces an imminent threat of debt default, negotiators warned that the final phase of talks would likely be the most delicate and difficult for both sides.
At the White House, President Joe Biden sounded a cautiously optimistic note. “The only way to move forward is with a bipartisan agreement, and I believe we’ll come to an agreement that allows us to move forward and protects the hardworking Americans of this country,” he said Thursday.
House Speaker Kevin McCarthy, R-Calif., said he did not know if a deal would be reached Thursday. “We’ve already talked to the White House today, we’ll continue to work,” he said after the House finished their last vote of the week and prepared to leave town. “They’re working on numbers, we’re working on numbers and we’ll work together.”
One influential Republican said he was optimistic about reaching a deal before the holiday weekend. Rep. Kevin Hern, of Oklahoma, who chairs the 156-member Republican Study Committee, said Thursday that he believed it was “likely” a deal would be reached by Friday afternoon.
“We are inching closer to a deal. I think it’s some of the finer points they are working on right now,” Hern told Reuters. “You are likely to see a deal by tomorrow afternoon.”Please click Like 👍, Comment 💬 & Repost 🔄 this article found at the bottom of your screen. Follow me for the latest news, trading ideas & strategies to ride the market daily with profits! 🤑
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Four businesses, MSFT AAPL AMZN and NVDA now make up over 37% of QQQ. That makes for limited participation 96% of the compositions businesses. When too much money chases too few businesses it creates some bad imbalances.
The big holdings in QQQ continue to lead as they should. I have no emotional connection to these names. Their balance sheets and forward projections demand attention. The bigger question, with inflation rolling over and Jay in pause mode is..what compares?Now, you have the safety trade plus growth. It's overdue. 370 before 300. I also use Tqqq; its history of double digit returns speaks for itself.
Big Tech Stocks are all reporting strong earnings growth and are benefiting from the continued adoption of their products and services.
The index has gained more than 10% this year, while the S&P 500 has gained about 8%.
it is important to note that the bull run in the Nasdaq Composite index could be coming to an end.