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Momentum Monday - So Many All-Time Highs Including The S&P
Howard Lindzon
December 02, 2024
As a reminder, MarketSurge (by Investor’s Business Daily) is now a sponsor of the weekly show. All the charts you have been seeing in the videos and will continue to see are from MarketSurge. They are offering my readers 2 months for $59.95 - save $239. That's 80% off the most powerful stock research platform for individual investors.
Welcome back to Momentum Monday!
In today’s episode of Momentum Monday, Ivanhoff and I discuss the following:
Introduction & Year in Review
Market Overview: S&P & Small Caps
AI, Quantum Computing & Tech Trends
Crypto Speculation & Meme Economy
Stock Highlights & Final Thoughts …e-commerce is breaking out led by Shopify.
Reminder: Riley on my team created the ‘Trends With No Friends’ email which is my go to list every day to track what is working and what is not. You can get it for free here.
In This Episode, We Cover:
Here are Ivanhoff’s thoughts:
Interest rates are falling, the US Dollar is pulling back, and the SPY closed the month at new all-time highs. The dips in crypto are getting bought as the new administration is shaping out to be significantly more friendly to the industry.
NVDA flushed below its 50-day moving average and bounced higher. If it manages to close above 140-141, it will likely recover towards 150 by the end of the year.
The build-up of AI infrastructure continues with full force. The stocks participating in the process keep making higher lows and higher highs – VRT, VST, COHR, NRG, ANET, etc.
AMZN also bounced and it is setting up near its all-time highs. Anything e-commerce did well in November – SHOP, GLBE.
And here are the charts discussed:
PS - Here is the latest ‘Trends With No Friends’ which covers ‘new highs and new lows’ and measures the followers (friends) on Stocktwits versus the prices. Subscribe here.
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