Nasdaq Strength: The Stock, Not The Index

JC Parets
April 18, 2020

The joke around our virtual office this morning was that the nasdaq is not just strong as an index, the stock itself really stands out!

The exchanges and "marketplaces" are really shining. The relative strength compared to many other sectors and industry groups is off the charts (see what I did there?)

Take a look at names like CME Group, Market Access and Tradeweb. These names keep popping up on our relative strength scans, especially compared to other types of "financials". But let's be serious, these are tech stocks.

This is the chart of the Nasdaq that has our attention:

Look at that relative strength breaking out of a 14-year base

I like $NDAQ long if we're above 108 with a target near 165.

The whole space stands out.

As I keep reiterating, there are going to be winners and losers. We can't know for sure which way the S&P500 is heading. But what we do know, is that there will be stocks that go up a lot.

I think $NDAQ is one of them.

What do you think?

JC

 

Filed Under: