US momentum report - Nov 17 2024

Vinoth Devakumar

Nov 17, 2024

S&P 500

S&P 500 had a pullback last week after the huge Trump trade upmove.

What is positive is that the index closed at the brakeout levels 5870.

NASDAQ 100

The NASDAQ 100 appeared more weaker on closing basis as the index close below the breakout levels at 20696.

However, I believe that NASDAQ will give better returns in the future due to the below reasons

We are in slow rate cutting phase.
Growth/Tech stock have given excellent returns during such phases in the past

Top 10 ranked momentum stocks

Ranked by the last 6 months Rate of Change of Price.

You can look for continuation pattern on these strongest names from the indices.

That is the intention of posting these top momentum stocks.

That is how i look for short term and long term trade positions outside my systematic portfolio.

S&P 100

Rank Ticker

1 $TSLA

2 $ORCL

3 $CHTR

4 $TMUS

5 $BMY

6 $GILD

7 $PYPL

8 $MS

9 $BLK

10 $COF

S&P 500

Rank Ticker

1 $PLTR

2 $AXON

3 $TSLA

4 $UAL

5 $TRGP

6 $EXPE

7 $FICO

8 $NCLH

9 $FTNT

10 $CCL

NASDAQ 100

Rank Ticker

1 $TSLA

2 $FTNT

3 $DASH

4 $TEAM

5 $CHTR

6 $ADSK

7 $TMUS

8 $GILD

9 $PYPL

10 $BKR

Russell 1000

Rank Ticker

1 $APP

2 $PLTR

3 $UI

4 $CVNA

5 $TPL

6 $AXON

7 $MSTR

8 $SOFI

9 $AFRM

10 $Z

Stocks that I'm Watching

Tesla

On a daily frame, Tesla appears to be bouncing up from the major resistance at 320. Tesla also appeared strong on friday when the entire market appeared weak.

Tesla could either pullback further to 280 - 300 ( this is the level for sizeable position)
Tesla could break the flag pattern by breaking out of 330 ( this is the level for a short term trade)