#dellsurges8%onearningsbeat
The major indexes all rolled over and closed in the red this afternoon. The Russell 2000 led the selloff, falling below its 65-day EMA, while the Nasdaq isn’t far behind. The S&P 500 also slipped below the confluence of its 21-day SMA and 23-day EMA. Meanwhile, the Dow finished today’s session below its 50-day SMA, although only slightly.
DELL, PANW, and MDB reported earnings after the bell. Only Dell traded higher in the after-hours session. PANW pulled slightly into its gap, while MDB gapped down toward its 50-day SMA. CRDO also reported earnings and was trading sharply lower after hours.
This could put additional pressure on both software and semiconductor stocks. Software continues to hold up relatively well, while semiconductors have rolled back over and continue to weaken.
Biotech and healthcare shares were among the strongest performers from the open today. However, many of the already-extended leaders in these groups have begun to pull back and may need additional time to consolidate before they can move higher again.
There is continued strength in oil and energy, materials, and utilities. However, much of this leadership is defensive. For the broader market to right itself, we need to see meaningful rotation back into areas that represent traditional growth leadership.
Given the weakening broader market, the Nasdaq’s recent non-confirmation, and increasingly narrow leadership, it’s time to play defense and minimize exposure—especially if you haven’t been making progress. If you are making progress, however, continue doing what’s working. There is no reason to change a process that is producing results.
When conditions deteriorate, stay selective, reduce exposure, and wait for the market to improve. The goal isn’t to always be invested; it’s to be positioned when the market gives you something worth owning.
$DELL
$AKE
$HEMI
The major indexes all rolled over and closed in the red this afternoon. The Russell 2000 led the selloff, falling below its 65-day EMA, while the Nasdaq isn’t far behind. The S&P 500 also slipped below the confluence of its 21-day SMA and 23-day EMA. Meanwhile, the Dow finished today’s session below its 50-day SMA, although only slightly.
DELL, PANW, and MDB reported earnings after the bell. Only Dell traded higher in the after-hours session. PANW pulled slightly into its gap, while MDB gapped down toward its 50-day SMA. CRDO also reported earnings and was trading sharply lower after hours.
This could put additional pressure on both software and semiconductor stocks. Software continues to hold up relatively well, while semiconductors have rolled back over and continue to weaken.
Biotech and healthcare shares were among the strongest performers from the open today. However, many of the already-extended leaders in these groups have begun to pull back and may need additional time to consolidate before they can move higher again.
There is continued strength in oil and energy, materials, and utilities. However, much of this leadership is defensive. For the broader market to right itself, we need to see meaningful rotation back into areas that represent traditional growth leadership.
Given the weakening broader market, the Nasdaq’s recent non-confirmation, and increasingly narrow leadership, it’s time to play defense and minimize exposure—especially if you haven’t been making progress. If you are making progress, however, continue doing what’s working. There is no reason to change a process that is producing results.
When conditions deteriorate, stay selective, reduce exposure, and wait for the market to improve. The goal isn’t to always be invested; it’s to be positioned when the market gives you something worth owning.
$DELL
$AKE
$HEMI
