Homebuilders Lead As Market Sends Mixed Message | Summary and Q&A

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July 22, 2020
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Investor's Business Daily
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Homebuilders Lead As Market Sends Mixed Message

TL;DR

The market showed positive gains, with the S&P 500, Dow, and Nasdaq all finishing in positive territory. Audio Codes had a breakout in the enterprise software group, while home builders saw a rebound in existing home sales. Zebra Technologies is setting up nicely in a cup base.

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Questions & Answers

Q: How did the major indexes perform for the day?

The S&P 500, Dow, and Nasdaq all had positive gains for the day, with the S&P 500 leading the market.

Q: What industries are experiencing breakouts?

Audio Codes had a breakout in the enterprise software group, while home builders, such as LGI Homes, are seeing a rebound in existing home sales.

Q: What is the current status of Zebra Technologies?

Zebra Technologies is setting up nicely in a cup base, and it has earnings coming up on July 28th.

Q: What is the significance of earnings season for stocks?

Earnings season can be a catalyst for stock moves, and it is important to consider options strategies or look for earnings gaps when trading stocks.

Summary & Key Takeaways

  • The major indexes, including the S&P 500, Dow, and Nasdaq, all had positive gains for the day.

  • Audio Codes had a breakout in the enterprise software group, with a gain of over 10% and heavy volume.

  • Home builders, including LGI Homes and Pulte Homes, saw a strong rebound in existing home sales.

  • Zebra Technologies is setting up nicely in a cup base, and earnings are coming up on July 28th.

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