Posted in Newsletter
By: Tom Gentile on June 23rd, 2021 • 2 mins read
NASDAQ is the star of the three big indeces
The Dow Jones Industrial Average isn’t considered the truest gauge of what’s going on with the economy anymore by many investors / money managers.
The S&P500 is the index that has more credibility and more reflects our economy and is the benchmark many money managers compare their returns to.
Neither of these are as strong as the NASDAQ right now.
The NASDAQ just reached / recorded its 16th closing high of 2021 closing at a record 14,271.73. It did establish a record intraday peak at 14,317.66.
When one thinks NASDAQ, they think FANG. The stocks that comprise this batch of stocks is Facebook, Amazon, Apple, Netflix, and Alphabet (the security formerly known as Google and why the G in FANG is still being used).
If you want to find opportunities on any of these from an investment perspective study their fundamentals and keep an eye on their earnings and monitor any new products (if any) they may have in the works.
From a traders (option traders) perspective check out the technicals in their charts. Most of them are at or near their highs so you’d have to believe in them higher at this juncture. The only one I see near a possible support level is NFLX.
C1P Chief 1-Percenter