MADISON, Wis. — Barack Obama appeared at a rally Tuesday with Democratic vice-presidential nominee Tim Walz, marking the former president’s first event with a member of his party’s ticket since Kamala Harris launched her presidential campaign in July.
Both Obama and Walz, the governor of Minnesota, implored a crowd of thousands in Wisconsin’s capital on the first day of early voting in the battleground state to cast their ballots early.
Welcome to The Campaign Moment, your guide to the biggest developments in the 2024 election, where strange bedfellows make for fascinating politics.
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CONCORD, N.H. — President Joe Biden sparked controversy Tuesday with a new attack line against former president Donald Trump, telling Democrats, “We’ve got to lock him up,” before moderating to suggest he meant figurative rather than literal incarceration.
After listing several dangers posed by a potential second Trump presidency at a Democratic Party campaign office here, Biden said: “I know this sounds bizarre. It sounds like, if I said this five years ago, you’d lock me up. We’ve got to lock him up.”
Yelp disabled comments for a McDonald’s in Pennsylvania where former president Donald Trump manned the fry station during a weekend campaign stop, after the restaurant’s Yelp page was hit by a flurry of politicized reviews.
“Went to this McDonalds to try the new chicken big Mac and was stunned to see a convicted felon operating the drive through,” a reviewer wrote.
Carl explores which index is best…the SP600 (IJR) or Russell 2000 (IWM). He makes a comparison over time and reveals which tends to be the better performer. Which one should you use to analyze what is happening in small-caps?
Carl gives us his market outlook as prices pullback today. Bitcoin is looking particularly bullish and Gold continues to impress. He then goes through all of the Magnificent Seven stocks in the short and intermediate terms.
Erin goes through sector rotation to see where the strength and weakness lies within the market. All sectors were pulling back today and PMOs were starting to see strain.
Carl and Erin both took a look at the Energy sector “under the hood” as well as Technology and Materials.
The pair finish with a look at viewers symbol requests which tended to be heavy on the Healthcare sector.
01:13 DP Signal Tables
04:43 Market Overview
14:33 Magnificent Seven Overview (Short and Intermediate terms)
20:16 SP600 (IJR) versus Russell 2000 (IWM)
23:40 Questions (Gold v. SP500, Energy (XLE), Divergences, MSFT)
30:22 Sector Rotation
40:00 Symbol Requests
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Technical Analysis is a windsock, not a crystal ball. –Carl Swenlin
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Disclaimer: This blog is for educational purposes only and should not be construed as financial advice. The ideas and strategies should never be used without first assessing your own personal and financial situation, or without consulting a financial professional. Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.
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Good morning and welcome to this week’s Flight Path. Equities saw the “Go” trend continue this week as the indicator painted strong blue bars the entire week. Treasury bond prices saw the “NoGo” trend continue with a week of strong purple bars. U.S. commodities saw the “Go” trend continue this wek and at the end of the week we saw a new strong blue bar. GoNoGo Trend shows that trend in the U.S. dollar continued to be a “Go” with mostly strong blue bars.
The GoNoGo chart below shows that the trend is strong for U.S. equities. GoNoGo Trend paints a week of uninterrupted strong blue bars as price remains elevated and close to highs. GoNoGo Oscillator has fallen from over bought levels and is now at a value of 3. This confirms the trend we see in the price panel.
The longer time frame chart tells us that the trend is still well and truly in place as we see another strong blue “Go” bar at new highs. GoNoGo Oscillator is approaching overbought territory and this represents enthusiasm from the market as we see prices climb higher.
The “Go” Trend Survives Another Week
Treasury bond yields emerged out of the “NoGo” last week and now we see that this week we have been able to maintain the new “Go” trend. The indicator paints strong blue bars and GoNoGo Oscillator is in positive territory at a value of 3.
Last week we saw a Go Countertrend Correction Icon (red arrow) telling us that price may struggle to go higher in the short term. As is sometimes the case in strong trends, price blew right past this warning and we saw strong blue “Go” bars and new highs this week. GoNoGo Oscillator has remained elevated this week as it stays in overbought territory.
How do you track movements of all the S&P 500 stocks on any given trading day? In this video, Dave will show you how he uses the StockCharts MarketCarpet to evaluate broad equity market conditions, assess the changes in the mega-cap stocks which dominate the benchmarks, and identify potential outliers that could serve as investment candidates. Enjoy this mini-masterclass on how to use a powerful heat map to better follow the technical analysis trends!
This video originally premiered on October 21, 2024. Watch on our dedicated David Keller page on StockCharts TV!
Previously recorded videos from Dave are available at this link.
When the market is down, you can see which stocks Wall Street may be pumping money into. So on a Monday morning when the markets are down, this allows you to spot stocks that are bucking the intraday trend.
If you go to your Predefined Scans under Bullish Technical Indicators, you can see which stocks are experiencing sizable inflows. Let’s zero in on the Moved Above Upper Bollinger Band list.
FIGURE 1. PREDEFINED SCAN. We’ll focus on the last row, highlighting the stocks that have moved above the upper Bollinger Band on a day when stocks are largely declining.Image source: StockCharts.com. For educational purposes.
Clicking on that selection and arranging the next page by “U” (Universe), the highest large-cap stock with the strongest StockCharts Technical Rank (SCTR) score was Applovin Corp (APP). APP also held the top spot on the Top 10 SCTR Report in the Large Cap, Top 10 category.
FIGURE 2. TOP 10 SCTR STOCKS ON OCTOBER 21, 2024. Applovin occupies the number one position with a 99.9 SCTR score.Image source: StockCharts.com. For educational purposes.
Even if you’ve never heard much about Applovin Corp—a tech company specializing in mobile app marketing and monetization solutions—you still will probably recognize the name, as it’s been showing up on the SCTR reports for quite some time.
If you do your research, you’ll find that Wall Street has been exceedingly bullish on this stock for quite some time. You should start with StockCharts’ Symbol Summary; this will give you fundamental and technical info to begin your research. For example, APP’s one-year performance was an impressive +322.7%. But if you’re coming in late to the game and interested in scooping up shares of APP, you’ll have to check the technicals to see where a good entry point might present itself.
Let’s look at a daily chart of APP in light of the Bollinger Bands scan.
FIGURE 3. DAILY CHART OF APP. Note the SCTR line over the entire five months (it’s been that high for an even longer period).Chart source: StockCharts.com. For educational purposes.
In the SCTR line and APP’s relative performance against the S&P 500 ($SPX) in the panels above the price chart, note the following:
Looking at the price chart, as the Predefined Scan pointed out, APP broke above the upper Bollinger Band, which is set to the second standard deviation. Only in rare cases can any stock maintain such a position. Typically, 90% to 95% of a stock’s price movements occur within the Bollinger Bands. There’s a strong chance of a pullback.
However, once a strong trend gets underway, price will often “walk” the Bollinger Bands—on the upside, it tends to “hug” the upper band, and the opposite is true of a strong downtrend.
The September price action illustrates this dynamic. In this case, it was particularly strong as APP’s “walk” took place above the upper band, signifying strong bullishness as the stock price rallied.
In the case that it pulls back…
What does momentum look like?
Meanwhile, APP’s SCTR reading remains strongly bullish. So, if you want to enter a position, keep an eye on the potential support levels outlined in the chart (specifically, the dynamic Bollinger Band levels and the market-based support level in the blue rectangle).
If market conditions change, especially if new and unexpected market factors come into play, then a stop loss a few points below $123 might be sufficient enough for you to reassess the situation and readjust your setup for a new entry point.
Incorporating Predefined Scans into your market assessment routine is like having a radar showing which stocks are ready to move. You’ll know what to research, and after that, analyze the stock chart to determine when and where to jump in.
Using one of many StockCharts tools to scan the market is a smart and efficient way to get an edge in spotting opportunities. This article focused on stocks that bucked the intraday downtrend. Through a few scans, I found APP, which has been on the top of the SCTR list for quite some time. This type of scan routine can help you find other market prospects in the future. Remember: don’t leave opportunities to chance. Scan early and often.
Disclaimer: This blog is for educational purposes only and should not be construed as financial advice. The ideas and strategies should never be used without first assessing your own personal and financial situation, or without consulting a financial professional.
Moldova’s crucial referendum on joining the European Union is too close to call, partial results showed Monday, as President Maia Sandu condemned an “unprecedented assault” on the country’s democracy.
With just over 1.4% of ballots still to be counted, 50.2% had voted “yes” in the referendum, according to the country’s Central Election Commission. The tight margin would come as a blow to Sandu, who had been hoping for a clear endorsement of the pro-EU path she has charted during her first presidential term.
Sandu, who framed the vote as a choice for the former Soviet country between pursuing its nascent European future or remaining lodged within the Kremlin’s orbit, also failed to secure enough votes to win outright in the country’s presidential election, held on the same day. A second round will be held on November 3.
In an uncharacteristically forceful statement issued late Sunday night, Sandu accused foreign groups of attempting to undermine Moldova’s democratic process and “using the most disgraceful means to keep our nation trapped in uncertainty and instability.”
Sandu said Moldovan authorities had “clear evidence that these criminal groups aimed to buy 300,000 votes – a fraud of unprecedented scale.”
In a video posted to his Telegram account last month, Shor had said he would pay voters the equivalent of $28 for registering with his campaign and more if they voted against the referendum.
Partial results also put Sandu first in the presidential race with 42.1% of the vote, ahead of her closest challenger Alexandr Stoianoglo – a former prosecutor general running for the pro-Russian Party of Socialists – with 26.3%.
The two will now face off in the second round. If other pro-Russian parties and voters throw their support behind Stoianoglo, the November 3 run-off could be extremely tight.
A 3-year-old Palestinian boy was killed by air-dropped aid in the southern city of Khan Younis on Saturday, according to his relatives, as the humanitarian crisis spawned by the Israeli offensive compounds severe hunger across the Gaza Strip.
“I was sitting here with the boy, and the moment I left him … the package fell on him,” Ayyad said. “There was only a second between me and him. I carried him and started running.
“We have no hospitals. I ran like crazy, but the boy died instantly. I couldn’t save him. Blood started coming out of his nose and mouth,” he added.
A number of countries have air-dropped aid into Gaza, including the United States, United Kingdom, Jordan and the United Arab Emirates.
“We don’t want aid. We want dignity,” said Ayyad. “Enough with the humiliation and insult that we are receiving from the Arabs, not just the Israelis. Those who have no mercy on us — look at our children, our women, our elderly.”
“We are human beings, not animals to drop food (to) from the sky,” he added.
The United Arab Emirates airdropped 81 food packages into Khan Younis on Saturday, according to the Israeli agency which controls the flow of aid into Gaza. More than 10,000 packages have been airdropped in recent months, Israel’s Coordinator of Government Activities in the Territories, or COGAT, added.
Israel’s sustained restrictions on aid entering the strip have sapped critical supplies, condemning the entire population of more than 2.2 million people to the risk of famine, according to a UN-backed report. About 1.84 million Palestinians are facing high levels of acute food insecurity, according to a report published Thursday by the Integrated Food Security Phase Classification, which assesses global food insecurity and malnutrition.
The Israeli military campaign in Gaza has leveled neighborhoods, erased entire families and spawned a crisis of severe hunger, displacement and disease. At least 42,603 Palestinians have been killed and another 99,795 injured since Israel launched its war in Gaza on October 7, the Ministry of Health there said on Monday.
Israel launched its military offensive on October 7 after the militant group Hamas, which governs Gaza, attacked southern Israel. At least 1,200 people were killed and more than 250 others abducted, according to Israeli authorities.
Sami and his loved ones had been staying in Khan Younis after they were displaced by the Israeli military campaign at least six times, according to his father, Mahmoud.
“There was an airstrike on people here, and he survived,” he added. “But his fate was to die from a parachute.”