• Investing
  • Stock
Round Table Thoughts
  • Economy
  • Editor’s Pick
Home Stock The Best Since 2000!
Stock

The Best Since 2000!

by June 24, 2023
by June 24, 2023 0 comment
Share
0
FacebookTwitterPinterestWhatsapp

2023 has seen a significant thrust in tech names. The recent run in semiconductor and software stocks are great examples of market thrusts. The market has split into different vehicles, and we are currently riding the AI vehicle to higher highs.

One of the tools I like to use to analyze stocks and indexes for momentum is the PPO.

Back in 2021, the $NDX index had a PPO surging to very high levels on the monthly chart. It was the highest level in 20 years, and suggested caution. When it rolled over, it was quite important to respect that. The PPO turned up to a buy signal this month, so that looks more bullish.

When I look at the mega-cap tech names, some of the charts are ramping up nicely, like TSLA. The weekly PPO is surging, and this looks like it could run to much higher levels. There is not a limit for the PPO, but when it rolls over on a weekly chart, it can be a clue to be more protective of gains.

When I look at MSFT, the PPO is significantly higher compared to history. Only in 2010 (which was after a major bottom) have we reached this level of momentum in this century. We are testing the prior high, so it’s probably a good place to be cautious. Nothing wrong with waiting for MSFT to give a little pullback.

Looking at NVDA, we have a significant surge as well. This is higher than anything since the turn of the century! The volatility of NVDA back in 2000-2002 gave you great trading opportunities. The real opportunity was in taking profits at high levels. That does not mean sell your stock here, but it does suggest having a plan for protecting profits.

What it suggests to me is that some of these charts are too extended for new positions. Feel free to analyze other mega-cap names for where they are relative to history. I had 46 charts on the $SPX with high PPOs, but that is only 10% of the index. Some are still rising, some are cresting, and some are well on their way lower.

It’s only been one week of selling, but it is important to recognize that these charts might be ready for a bigger breather.

If you like the work we do, feel free to go over to OspreyStrategic.org and consider a $7 one-month trial. I’ll be detailing some other indicators in the weekend newsletter. Enjoy the week.

You Might Also Like
  • Mish’s Daily: Sugar Futures and Social/Economic Impact to Stocks
  • The Halftime Show: Sectors Bullish Percent Index
  • Spot Big Reversals Using the ADX Indicator
  • A Day in the Life of a Trader
Share
0
FacebookTwitterPinterestWhatsapp

previous post
MEM TV: Key Areas of Support as Markets Pull Back
next post
Complete Trader: Macro to Micro and Top Picks Live

You may also like

Investors are Pouring Into Gold Miners—Here’s What You Need to...

January 24, 2025

Don’t Miss Out! 2 Promising Sectors in Early 2024

January 10, 2024

Cruise Line Stocks Just Exploded! Here’s What You Need to...

June 25, 2024

This MUST SEE MACD Pattern is a Game Changer

May 29, 2024

Crude Oil Collapses – Will It Move Even Lower?

March 16, 2023

Baltic Dry Index as Leading Indication

March 24, 2023

A Very Accurate Sentiment Reading That Is Flashing A RED...

February 18, 2024

Coming Soon: A New Era of Options Trading With OptionsPlay

October 4, 2024

The Halftime Show: TSLA Review — Anatomy of a Trade...

August 22, 2023

Week Ahead: NIFTY May Stay Ranged; Trending Moves To Occur...

October 19, 2024

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • How to Find Compelling Charts in Every Sector

      July 10, 2025
    • White House accuses Powell of mismanaging Federal Reserve, citing headquarters renovation

      July 10, 2025
    • Italian chocolate giant Ferrero to buy Kellogg’s Froot Loops maker

      July 10, 2025
    • OpenAI to release web browser in challenge to Google Chrome

      July 10, 2025
    • Sports executive charged with bid-rigging in Texas arena project

      July 10, 2025

    Popular Posts

    • 1

      Biden appointee played key role in recruiting Chinese...

      June 25, 2024 3,631 views
    • 2

      Trump-era China sanctions ended by Biden may be...

      June 27, 2024 2,919 views
    • 3

      Walz’s honeymoon with China gets fresh scrutiny as...

      August 9, 2024 2,607 views
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful...

      July 10, 2024 2,577 views
    • 5

      Harris VP pick spent years promoting research facility...

      August 29, 2024 2,450 views

    Categories

    • Economy (7,009)
    • Editor's Pick (2,171)
    • Investing (538)
    • Stock (2,662)

    Popular Posts

    • 1

      Biden appointee played key role in recruiting Chinese businesses to Delaware: ‘Longtime friends’

      June 25, 2024
    • 2

      Trump-era China sanctions ended by Biden may be revived under new House GOP bill

      June 27, 2024
    • 3

      Walz’s honeymoon with China gets fresh scrutiny as Harris camp blasts ‘lying’ critics

      August 9, 2024
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful of Chinese spy threats

      July 10, 2024
    • 5

      Harris VP pick spent years promoting research facility that collaborated with ‘Chinese military company’

      August 29, 2024

    Latest News

    • How to Find Compelling Charts in Every Sector

      July 10, 2025
    • White House accuses Powell of mismanaging Federal Reserve, citing headquarters...

      July 10, 2025
    • Italian chocolate giant Ferrero to buy Kellogg’s Froot Loops maker

      July 10, 2025

    Categories

    • Economy (7,009)
    • Editor's Pick (2,171)
    • Investing (538)
    • Stock (2,662)

    Disclaimer: RoundTableThoughts.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 RoundTableThoughts.com. All Rights Reserved.

    Round Table Thoughts
    • Investing
    • Stock
    Round Table Thoughts
    • Economy
    • Editor’s Pick

    Read alsox

    Getting Perspective and Dealing with Volatility

    April 20, 2024

    Four Charts to Keep Inflation at...

    February 16, 2023

    Real Problems in Real Estate

    February 27, 2023
    Sign In

    Keep me signed in until I sign out

    Forgot your password?

    Password Recovery

    A new password will be emailed to you.

    Have received a new password? Login here