Hey everyone, welcome back to another Sunday Scan. We have a lot of topics and sectors to review today so you’ll want to stick around till the end. Market themes are changing fast and we want you to be prepared for some big moves this week. Volatility is back from rising bond yields, and some sectors like quantum are crashing while other sectors like energy are rising. We will cover all of that and more.
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Okay, now let’s get on to Scan for the week.
Judah is joining us to share some market thoughts and some long-biased trading strategies that work in all types of market conditions (not just raging bull markets) so make sure you check out the video this week to hear about those.
Video Scan and Game Plan
Main Watches
FUBO consolidating after a big move, looking to see if it gets another leg up. May be interested in joining long for a breakout this week.
DJT will have on watch into the inauguration. This could have some large moves soon especially if there is a headline on it this week or next week.
CRNC on watch for a bounce trade long if it starts to perk back up.
IRBT SERV GFAI ARBE robot theme holding up decently while other themes fall apart. If the market has a strong day these could have a move higher, so looking for potential longs vs key levels / support.
RKLB trend holding for now. On watch for a potential move up if it gets some demand to return this week.
ABAT if it continues to consolidate and hold a base there could be a bounce / clear out move to join on the long side.
Interest rate sensitive sectors under pressure KRE LEN IWM rising bond yields and fewer Fed interest rate cuts hurt banking, real estate and some small caps. Few names to have on watch for more downside if bond yields (TNX) stay elevated or increases into next week.
Energy theme LNG EQT AR CGBS on watch for upside if natural gas and oil continue to ramp. Some of the strongest charts out there while the market has been volatile. Keep an eye out for headlines in the small cap names too this week.
Weak AI names ON AMD continue to make lows as pressure on the sector and the market has made for a smooth ride down. On watch for trend continuation to the downside.
Alcohol stocks BUD STZ trending down since STZ reported weak demand for its products amid changing consumer habits. These may have some more downside in the coming weeks and months.
California wildfire stocks EIX PCG MCY ALL TRV power providers in California and insurance providers exposed to the damages are all trending lower. As more details emerge we could have the next leg down in a lot of these names.
AI power providers with relative strength CEG VST good charts in this market with the clean energy powering the AI theme. May have some more room to run to the upside.
Nice scan, one other category to consider alongside the alcohol is the processed food names, some nice short setups there as well. Just fyi that DJT chart is incorrect.