S&P 500, Nasdaq Tame, But Salesforce, Caterpillar, Booking Lead New Buys | Stock Market Today

TL;DR

Major indexes experience gains, with broad strength observed in the market. Key stocks to watch include Salesforce, Caterpillar, and Booking Holdings.

Transcript

thank you thank you good afternoon everyone it's Allie Corbin Ed Carson here with a look at the market for Tuesday July 11th where we saw gains for the major indexes but an even stronger day Ed underneath the surface yeah once again some broad strength so that's nice to see I have a couple of Dow stocks I want to take a look at Salesforce and cater... Read More

Key Insights

• 🫰 The market exhibits broad strength, with gains observed in major indexes and small caps.
• 💐 Equal-weighted ETFs indicate expanded leadership beyond the usual top-performing stocks.
• ❓ Salesforce, Caterpillar, and Booking Holdings show potential for further growth and outperformance.
• 🎚️ Risk management and following market signals while being level-headed are essential in the current market environment.
• 🥹 Earnings season poses challenges for traders, requiring careful decision-making regarding profit-taking, holding through earnings, or taking advantage of actionable setups.
• 🦺 Risk management rules should be followed to ensure portfolio safety.
• 😃 Leaderboard subscribers can access a quarterly scorecard webinar to learn about performance and strategies for holding big winners.

Questions & Answers

Q: What were the major indexes' performances on Tuesday?

The NASDAQ Composite was up almost 0.6%, the S&P 500 was up 0.7%, and the Dow was up 0.9%.

Q: How did small caps perform in the market?

Small caps, represented by the Russell 2000, experienced a breakout, indicating positive market breadth and strength.

Q: What insights can be gained from the equal-weighted ETFs?

ETFs such as RSP and QQEW exhibited strength and broke out, showcasing leadership expansion beyond the top-performing stocks and indicating a healthy market rally.

Q: Which stocks showed notable movements in the market?

Salesforce displayed a strong move above a trend line within a base, with multiple reasons to consider it a potential buy. Caterpillar also broke out, showing signs of outperforming the market. Booking Holdings is flashing an early entry signal within a base.

Summary & Key Takeaways

• Major indexes, including NASDAQ Composite, S&P 500, and Dow, all saw gains, indicating broad-based strength in the market.

• Small caps also performed well, with a breakout for the Russell 2000, indicating positive market breadth.

• Equal-weighted ETFs, such as RSP and QQEW, displayed strong performance, reflecting expanded leadership beyond the usual top-performing stocks.