Library Archive
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- Major asset representatives saw muted action during trading on 8/5. Many of the major domestic representatives landed in the red for the day, seeing the likes of the Nasdaq Composite ([NASD], -.83%), Russell 2000 ([RUT], -.59%) or S&P 500 [SPX], -.17%) finish lower on the day. This is normal after the magnitude of upside action this week.
- The only domestic equity representative to move higher was the Dow Jones Industrial Average ([.DJIA]) which picked up roughly .5% to move one box higher on its default chart. It is now trading in heavily overbought territory, so a pullback to the ~50,000 mark would be normal/constructive on an exhale.
- On the commodities front, crude ([CL/]) moved lower on its chart. A trip back down to the summer 2026 lows in the upper $60’s wouldn’t be out of the question. Gold advanced roughly 3.7% for the day, pushing higher to test its negative trend line. Even on a break, wait for further technical improvement before considering precious metals exposure.
- [PH] picked up ~6-8% in premarket trading, pushing to new highs on strong earnings. It remains a high attribute name looking to pick up its 5th technical attribute. [DDOG] slipped as much as 20% in premarket action on poor guidance. It is still up handedly this year but monitor its TA score to see if the decline is enough to mark any relative deterioration. [NET] & [TTWO] report over the next 24 hours (8/6-8/7)- both are high RS options for those of you looking for earnings plays.
- [NVDA] broke a spread quadruple top to move back into a positive trend on its default chart. It remains quite rangebound, but the upside action for the name certainly doesn’t go unnoticed. From here, the semiconductor giant will look to push back towards ATH’ s arpid $236.
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