Stocks Roar Off Lows; Zoom Video Breaks Out, Microsoft Works On Handle, Chipotle Rises

TL;DR

The major indexes closed mixed, with the Nasdaq down, the Dow nearly flat, and the S&P 500 slightly down. Zoom Video flagged a breakout, Microsoft is forming a handle, and Chipotle saw a nice upside reversal.

Transcript

good afternoon everyone and welcome to stock market today you have alyssa quorum here and i'm joined by ed carson on today's show we're going to be taking a look at the major indexes some interesting action as well as some interesting moves under the surface ed that's right zoom video flagged down yet another breakout microsoft is you know looks li... Read More

Key Insights

• 😘 Despite the morning lows, the major indexes showed resilience and recovered throughout the day.
• 💦 Zoom Video continues to have an impressive run and is considered the "stock of the year" due to its jaw-dropping growth.
• 🍵 Microsoft, along with other big tech stocks, is forming a cup with handle pattern, indicating a potential breakout.
• 🙃 Chipotle experienced a nice upside reversal and shows good support at the 50-day moving average.
• ❓ Earnings season is approaching, and investors should be cautious as results may not always align with expectations.
• 🥳 Waiting for the day before earnings to make investment decisions can provide a clearer picture of the potential risk.
• ✳️ Option strategies can be considered to mitigate risk during earnings season.

Questions & Answers

Q: How did the major indexes perform?

The Nasdaq closed down, the Dow was nearly flat, and the S&P 500 had a slight decline for the day.

Q: What breakout did Zoom Video flag?

Zoom Video flagged a breakout after experiencing a significant run-up, presenting another buying opportunity for investors.

Q: What pattern is Microsoft forming?

Microsoft is forming a cup with handle pattern, indicating a potential upcoming breakout.

Q: How did Chipotle perform?

Chipotle closed higher, with strong support at the 50-day moving average, and is approaching its earnings report, which could be a catalyst for another breakout.

Summary & Key Takeaways

• The major indexes showed mixed performance, with the Nasdaq down, the Dow nearly flat, and the S&P 500 slightly down.

• Zoom Video flagged a breakout after a big run-up, providing another buying opportunity for investors.

• Microsoft is forming a cup with handle pattern, while Chipotle closed higher, showing good support at the 50-day moving average.