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Posted January 08, 2021

Scott Stewart

By Scott Stewart

Job Numbers Bad, But Market Pushes Higher

Welcome to the Rude Awakening for January 8, 2021

This morning, all the major indices opened higher. Especially strong were the S&P and the Nasdaq.

Lots of buying coming into the marketplace over the last couple of days, and that has been an interesting point of discussion

Remember

The Market Has No Emotion

The stock market is an economic weigher. It doesnt actually care what happens in congress, what happens in the world.

What its really looking at is whats next. Its a forward leaning, future-paced thing.

Regardless of the disappointing job numbers, there is a lot of optimism in this marketplace, the investors buying into it.

For that reason, weve found for you

Bullish Trades for an Optimistic Market

These are stocks we filtered through on a rising chart pattern.

At the top of our list is Apple Inc (AAPL). Apple announced they will be working alongside Hyundai Motor Corp to develop their EV, which is powering both of their stocks and we are seeing buy signals on AAPL.

Taiwan Semiconductor Manufacturing Company Limited (TSM) is another one we are watching. All the technicals are showing buy signals here. So keep this one in mind as youre looking for bullish plays.

The bank stocks continue to power higher. JP Morgan (JPM) is the cream of the crop, so this is definitely one to watch.

Nike (NKE) is also showing buy signals and trailing higher. You want to be aware of a potential pullback here, and maybe watch for that to get in. This is a definite bullish pattern.

Cisco (CSCO) is another you might be able to get a bit of a pullback. Its showing signs of consolidation. So, before it can potentially push higher, you could get in for less.

Oil futures continue to push higher. Saudis have taken control of the oil market and clamped down on their distribution and manufacturing, refining of oil.

Exxon Mobil Corporation (XOM) is now showing buy signals for this reason.

Trade well, trade safe, and have a great weekend.

Well talk to you Monday!

Regards,

Scott Stewart

Scott Stewart

Editor, Rude Awakening

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