SPY MARKET ANALYSIS
Currently the market momentum is to the UPSIDE and we are seeing significant buying pressure causing most prices to rise. Periods where this has been true in the past are indicated by the green areas in the market analysis chart below. These markets should favor buying stocks moving aggressively to the upside with wider upside targets.
TRENDING and CONTRARIAN PICKS
|STRENGTHENING||Showing upward momentum right now is CDNS which is our strengthening momentum long pick for today. We wouldn’t be surprised to see a +1.9% up move in CDNS today. Cadence Design Systems, Inc. provides solutions that enable its customers to design electronic products.|
|WEAKENING||Showing downward momentum right now is NWL which is our short pick for today. We wouldn’t be surpised to see a -3.6% down move in NWL today. Newell Brands Inc. is a consumer goods company.|
Paul "Bulldog" Hudson, Chief Investment Officer
Darwin Investing Network