If the market remains elevated without a pullback, it is likely to become complacent, as investor sentiment has become less fearful.
The S&P 500 is hovering around 3000 and needs to breakout soon, or risk a break down (or failed break out). The Semiconductors Sector ETFs NYSEARCA: SMH and NASDAQ: SOXX will likely test the bulls resolve today after Texas Instruments (TXN) gloomy outlook.
In today’s stock market video, we discuss these themes and more. We highlight several stocks and sectors with buy and sell ideas. Here’s a recap:
– Investor sentiment has become less fearful as the stock market tests recent highs.
– Texas Instruments (TXN) will be a test for the Semiconductor Sector (SMH) today.
– We are visualizing the Growth to Value shift – see video.
Stock Market Today Video – October 23, 2019
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.
