Team, Pat Walker here with Mission Winners, ready to dive into our weekly ETF and MAXLIST™ stock review. The IBD 50 is showing some weakness, closing down on Friday with increased volume. Gold miners and gold stocks are also trading flat, so be cautious in those areas. Biotechnology bounced off the 50-day moving average, but we need to see more power before jumping in. Oil and gas are lagging, remember, the air is always better above a rising 50-day moving average.
Software technology took a hit and is currently lagging below all moving averages. Medicine also needs a shot in the arm, showing little power right now. However, aerospace and defense (ITA) is looking strong, recently pushing through the 21-day moving average with increased volume. Home construction and real estate are both lagging below the falling 50-day moving average, so be cautious there.
On the positive side, S&P 500 growth stocks are showing some strength, and small caps are improving. However, transportation, airlines, and oil services are all areas to avoid right now. Midcaps are starting to show improvement, which is a good sign for the overall market. Pharmaceuticals might be worth a look, especially PPH if it breaks above recent highs.
Remember to check out our Market Minute videos for daily updates. QLD and QQQ bounced off the 50-day moving average, so we’ll keep an eye on them. Retail is still weak, and silver and steel are not showing much power. Semiconductors are trending up, but be cautious with solar stocks as they have a lot of overhead supply. Small caps and biotech are still lagging, so avoid those areas.
Moving onto the MAXLIST™ stocks, Apple needs to break out above recent highs with volume, while Amazon is showing selling pressure, so stay away for now. Alibaba and Google need to base out and show more strength before we consider them. Goldman Sachs is showing some power, but MasterCard, Meta, and Microsoft are a bit choppy. Netflix needs to show more power, and Nvidia and NVDL are both looking good, but be cautious with earnings coming up. Square, Tesla, and Visa are not showing much action right now. Remember, focus on strength and use your time and money wisely.
ETFs on our list: ARKG, ARKK, ARKW, BBH, CLOU, ERX, FDN, FFTY, GDX, GDXJ, GLD, HACK, IBB, IBUY, IGV, IHI, IJH, ITB, IVW, JETS, KRE, MDY, OIH, PSJ, QLD, QQQ, SKYY, SLV, SLX, SMH, SOXL, SPY, SSO, TAN, TNA, USO, XAR, XBI, XEC, XHB, XLB, XLK, XOP, XLC, XLE, XLF, XLI, XLP, XLU, XLY, XME, XRT, and XSW. Scanning these ETFs to uncover strength helps us tune in to specific industry groups and sectors.
The MAXLIST Review analyzes the performance of the following companies: AAPL, AMZN, BABA, BIDU, GOOGL, GS, MA, META, MSFT, NFLX, NVDA, SQ and TSLA. We evaluate their strengths and weaknesses in the market and identify the opportunities and threats they face. The MAXLIST consists of leading and influential businesses that have the potential to generate significant returns
