Tech Is No Longer Leading The Rally

Sector Rotation Continues

Author

Don Kaufman
July 16, 2024

Tech Is No Longer Leading The Rally

By Gianni Di Poce

The markets are on fire, with significant gains across biotech, gold, Bitcoin, and major indices. Our strategy has positioned us well, but signs suggest the easy gains might be behind us. Here's how we can capitalize on the continuing bull trend while preparing for potential shifts ahead:

  • Lock in profits on our most successful positions

  • Increase allocation to defensive sectors

  • Consider adding gold or other safe-haven assets

  • Stay vigilant for signs of market exhaustion

  • Prepare a watchlist of quality stocks for potential pullbacks

While the bull market continues, it's time to balance optimism with caution.

I'll provide a detailed analysis in our next update, including key charts and specific recommendations to help navigate this evolving landscape.

TheoTrade Daily Chatroom Schedule

Wednesday, July 17, 2024

  • 9:20 AM to 10:30 AM: Ring the opening bell with Don
  • 10:30 AM to 11:30 AM: Trader's Masterclass with Professor Jeff Bierman
  • 11:30 AM to 12:30 PM: Swing Trading Excellence by Gianni Di Poce
  • 12:30 PM to 1:15 PM: Blake Young's Top-to-Bottom Market Analysis
  • 1:15 PM to 2:00 PM: Brandon Chapman's Options Spotlight
  • 2:00 PM to 3:00 PM: NQ Futures Hunting with Tony Rago
  • 3:00 PM to 4:00 PM: Range & Trend Strategies: Corey Rosenbloom's Playbook
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Two New Trade Ideas From Gianni

1. CCL (Carnival Corporation)

  • Buy Signal: On close above $19.19
  • Stop Loss: On a close below $17.65
  • Target: $28 to reduce

2. SNPS (Synopsys)

  • Buy Signal: On close above $621.31
  • Stop Loss: On a close below $570.65
  • Target: $770 to reduce

Note: These are trade ideas and not financial advice. Always do your own research and consider your risk tolerance before trading.

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