Global stock markets and U.S. futures are mostly lower this morning despite the Federal Reserve saying it will continue to support the economy to help keep everything running without a hitch.
The Nasdaq rose 1.2% Monday. But if you look at the number of Nasdaq 100 stocks trading above their 200-day moving averages, it’s 80 out 100. We don’t usually see that high of a figure. And when we do, we tend to cool off. So I don’t anticipate us staying here long.
But let’s see how far that goes…
In today’s video, I’ll show you if the tech sector is ready to move higher… how much the iShares 20+ Year Treasury Bond (Nasdaq: TLT) could bounce back… which sector to focus on right now… and three pullback stocks on my radar right now.
You can find the first pullback stock in the Financials sector. It looks like it just hit its highest high, only to bounce back to its 50-day moving average to flush out weak hands. So in other words, I see this stock moving even higher!
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