This Week’s Stock Market Rally Fueled By Growth Stocks

The recent stock market decline has seen the Nasdaq and Nasdaq 100 ETF (QQQ) selloff sharply, as growth stocks stumble. But the selloff may have stretched a bit too far, too fast… So it makes sense that the early week rally we’ve seen is lead by this group.

In today’s video, we take a look at the latest investing news and themes, key technical price levels to monitor in the days ahead, and trending sectors and stocks. Here’s a recap:

The S&P 500 ETF (SPY) is trading above the $325 mark, making it a key level of support now.

The Nasdaq 100 ETF (QQQ) rallies past $270 as growth stocks lead.

Excessive options positioning is moderating this week.

The software sector and stocks are oversold and holding support.

Stock Market Today Video – September 23, 2020

Twitter:  @DanRusso_CMT

Author may have a position in mentioned securities at the time of publication. 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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