[Video] Nasdaq 100 Eyes New Highs, Apple Breaks $150

Tech stocks may be lagging behind the broader S&P 500, yet the Nasdaq 100 shows the potential to close the gap and break to a new record high.

Stocks (2)

 

In today’s video we analyse the Nasdaq 100 daily chart, reassess our analysis on Apple (AAPL) following its break above a key resistance level then finish upon platinum futures.

Elsewhere, Edwards Lifesciences (EW) rose to a 4-day high in line with our bullish bias. Target (TGT) has pullback back within its established bullish channel, printed a bullish engulfing candle and found support at the monthly pivot point. We suspect a corrective low could be in place but be warned that earnings are released tomorrow (and US retail sales are released today) so the stock is vulnerable to volatility over the next 48 hours.


S&P 500: Market Internals


S&P 500: 4479.71 (0.26%), 16 August 2021

  • Healthcare (1.12%) was the strongest sector and Energy (-1.83%) was the weakest
  • 7 out of the 11 S&P 500 sectors closed higher
  • 5 out of the 11 sectors outperformed the S&P 500
  • 4 out of the 11 sectors traded lower on the S&P 500
  • 272 (53.86%) stocks advanced and 232 (45.94%) declined
  • 84.16% of stocks closed above their 200-day average
  • 67.33% of stocks closed above their 50-day average
  • 70.1% of stocks closed above their 20-day average

Outperformers:

  • + 7.5%   -  eBay Inc  (EBAY.OQ) 
  • + 3.8%   -  Advanced Micro Devices Inc  (AMD.OQ) 
  • + 2.8%   -  Regeneron Pharmaceuticals Inc  (REGN.OQ) 

Underperformers:

  • -5.5%   -  APA Corp (US)  (APA.OQ) 
  • -4.7%   -  Diamondback Energy Inc  (FANG.OQ) 
  • -4.6%   -  HP Inc  (HPQ.N) 


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