Nasdaq Extends Gains After Bullish Rally; Ollie’s, CRWD, IGV In Focus | Stock Market Today

TL;DR

The market experienced bullish gains, particularly in the retail sector, security software, and tech ETF.

Transcript

good afternoon everyone and welcome to stock market today it's ali corm and kintreef here with a look at the action in today's session and we saw a bullish day in the market can follow up to yesterday's strong gains uh bullish gains tuesday more bullish gains uh wednesday so still hard finding you know actionable stocks out there but we'll take a l... Read More

Key Insights

• 🥺 The market is experiencing a bullish trend, with the Nasdaq leading the way and showing a strong gain above the 12,000 level.
• ☠️ The upcoming week will be busy with earnings reports from major tech companies and the possibility of a rate hike by the Fed.
• 🛀 Ollie's Bargain Outlet and CrowdStrike are showing positive technical setups in their respective sectors.
• 📈 The iShares Expanded Tech Software Sector ETF (IGV) is benefiting from the uptrend in tech stocks and broke a trend line, signaling a potential upward movement.

Questions & Answers

Q: Which indexes showed the most significant gains in the market?

The Nasdaq had the strongest gain, surpassing the 12,000 level, followed by the S&P 500 and the Dow.

Q: What can be expected in terms of upcoming events that may impact the market?

The upcoming week will be busy with large-cap tech earnings from major companies like Amazon, Facebook, Apple, and Microsoft. The Fed is also expected to make a 75 basis point rate hike.

Q: What is the current performance of Ollie's Bargain Outlet?

Ollie's Bargain Outlet is experiencing an orderly pullback in an uptrend, potentially setting up for higher prices. It has come close to its 21-day moving average and may see another test of the 21-day line.

Q: How is CrowdStrike performing in the security software group?

CrowdStrike is showing signs of an uptrend, with a breakout signal and a move above the 50-day moving average. It still faces resistance at the 200-day line.

Q: Which ETF broke a trend line and had a breakout signal?

The iShares Expanded Tech Software Sector ETF (IGV) broke a trend line and showed a breakout signal, particularly benefiting from the tech stocks trying to come off lows.

Summary & Key Takeaways

• The Nasdaq had a strong gain, surpassing the 12,000 level, while the S&P 500 and Dow also showed positive movements.

• The upcoming week is expected to be busy with large-cap tech earnings and the possibility of a rate hike by the Fed.

• Ollie's Bargain Outlet is experiencing an orderly pullback, potentially setting up for higher prices, while CrowdStrike shows signs of an uptrend in the security software group.

• The iShares Expanded Tech Software Sector ETF (IGV) broke a trend line and had a breakout signal.