Dow, S&P 500, Nasdaq Hit All-Time Highs

TL;DR

Major indexes reach new all-time highs, Micron experiences a solid recovery, Twitter sees a 15% gain on strong user growth, Chegg forms a solid base ahead of earnings.

Transcript

good afternoon from Los Angeles and welcome to stock market today on today's show we're gonna break down the chart action for micron as well as Twitter and check but we begin with a look at the major indexes it's Alisa core I'm here with Ken Shrieve and Ken we saw gains across the board today the nasdaq up about seven tenths of a percent in the S&P... Read More

Key Insights

• ✋ The major indexes reached new all-time highs, indicating overall market strength.
• 💬 Micron's recovery and positive comments from analysts suggest a bullish outlook for the chip sector.
• 👤 Twitter's strong user growth and monetizable daily active users provide optimism for the company's future.
• 💁 Chegg's transformation into an education technology company and its solid chart formation make it a compelling investment opportunity.
• ❓ Software stocks bounced back, highlighting their resilience in the market.
• 🥳 The semiconductor index had two days of explosive gains, indicating strong performance in the sector.
• 💁 Cup with handle formations, like the one forming for Chegg, can be a bullish signal if the pullback is around 30% to 35%.

Questions & Answers

Q: What were the major gains seen in the stock market today?

The Nasdaq, S&P 500, and Dow all reached new all-time highs, with the Nasdaq outperforming. Software stocks bounced back, and the semiconductor index held its gains from the previous days.

Q: How is Micron performing in the chip sector?

Micron has experienced a solid recovery, gaining 3.4% today. Positive comments from Raymond James and a strong breakout from a previous base indicate a bullish outlook. A $70 price target has been set.

Q: Why did Twitter see a 15% gain on its earnings?

While there was a miss on earnings, Twitter's sales exceeded expectations and daily active users grew over 20%. Monetizable daily active users reached 152 million, beating estimates. This growth was a key metric for investors.

Q: What is happening with Chegg ahead of its earnings?

Chegg is setting up in a solid base, about 2% below a potential buy point. The company has undergone a digital transformation, with about 80% of its Q3 revenue being digital. The upcoming earnings report could be a catalyst for a breakout.

Summary & Key Takeaways

• The major indexes (Nasdaq, S&P 500, and Dow) all reached new all-time highs, with the Nasdaq outperforming and software stocks bouncing back.

• Micron, a chip sector company, shows a strong recovery and rebounds off the ten week moving average, receiving positive comments and a $70 price target.

• Twitter experiences a 15% gain on earnings, with sales exceeding expectations and daily active users growing over 20%.

• Chegg, an education technology company, forms a solid base ahead of earnings and shows potential for a breakout.