The recent decline last week revealed that the artificial intelligence bubble is deflating. Magnificent Seven stocks are unwinding in response to investors losing confidence in the AI trade in general. Carl gives us a complete picture of the Magnificent Seven in the short and intermediate terms. It doesn’t look very good.
Carl also gives us insight on the condition of Intel (INTC) which has been discussed as a good reversal candidate. Carl gives us his opinion on whether we should be buying INTC or not.
Erin looks inside darling, Consumer Staples (XLP) using DecisionPoint “under the hood” charts to understand the actual health of the sector. She also dives into Energy (XLE) which is on support and Consumer Discretionary (XLY) which has been in a holding pattern. Participation gives us a hint as to where it is likely to resolve.
The pair finish the program with a look at viewer symbol requests.
Get complete market analysis with a DecisionPoint Alert subscription! You’ll know the market’s trend and condition plus coverage of Bitcoin, Yields, Bonds, Gold, Gold Miners, the Dollar and Crude Oil! Try us out with a free two week trial using coupon code: DPTRIAL2!
01:23 DecisionPoint Signal Tables
03:57 Market Analysis
13:22 Magnificent Seven Short and Intermediate Terms
22:25 Discussion on Intel (INTC)
25:40 Sector Rotation (Coverage of XLP, XLE and XLY)
34:05 Questions (Nuclear Energy ETF)
40:02 Symbol Requests
Introducing the new Scan Alert System!
Delivered to your email box at the end of the market day. You’ll get the results of our proprietary scans that Erin uses to pick her “Diamonds in the Rough” for the DecisionPoint Diamonds Report. Get all of the results and see which ones you like best! Only $29/month! Or, use our free trial to try it out for two weeks using coupon code: DPTRIAL2. Click HERE to subscribe NOW!
Watch the latest episode of the DecisionPointTrading Room on DP’s YouTube channel here!
Try us out for two weeks with a trial subscription!
Use coupon code: DPTRIAL2 Subscribe HERE!
Technical Analysis is a windsock, not a crystal ball. –Carl Swenlin
(c) Copyright 2024 DecisionPoint.com
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.
DecisionPoint is not a registered investment advisor. Investment and trading decisions are solely your responsibility. DecisionPoint newsletters, blogs or website materials should NOT be interpreted as a recommendation or solicitation to buy or sell any security or to take any specific action.
Helpful DecisionPoint Links:
Price Momentum Oscillator (PMO)
