Money Control Place
  • Politics
  • Business
  • Stocks
  • Investing
  • Politics
  • Business
  • Stocks
  • Investing

Money Control Place

Stocks

Two Holding Up and Two Breaking Down

by October 3, 2023
October 3, 2023
Two Holding Up and Two Breaking Down

The pockets of strength are shrinking as more stocks succumb to selling pressure. The Nasdaq 100 is the strongest of the major indexes, while the Finance sector is one of the weakest sectors. Today’s report will highlight two leaders within the Nasdaq 100 and two laggards within the finance sector.

The first chart shows Meta Platforms (META) within a strong uptrend and well above its rising 200-day SMA. META fell in August and then rebounded the last six weeks. It remains above its August low and a leader. The blue lines mark a rising channel with support at 287. A break there would reverse this upswing and target a move toward the rising 200-day. META was featured in Chart Trader last week.

The next chart shows Mastercard (MA) hitting a new high in September and then falling the last three weeks. MA remains above its August low and still in an uptrend. The S&P 500 SPDR (SPY), in contrast, broke its August low. I am watching META and MA because they are leaders and are holding up. It would be negative if these leaders break their August lows.

The next chart shows Goldman Sachs (GS) breaking its August lows and leading lower. The stock fell sharply from early February to mid March and then worked its way higher into early August. This looks like a long corrective bounce and the breakdown signals a continuation lower. Relative and absolute weakness from Goldman cannot be positive for stocks.

And finally we have JP Morgan (JPM). The stock broke its August low in early September and then formed a pennant (blue lines). These are short-term continuation patterns and the prior move was down. This makes the pennant a bearish continuation pattern. JPM broke pennant support the last two days and the downside target is in the 132-134 area.

Check out Chart Trader at TrendInvestorPro for more technical analysis and setups like these. A one week trial is now available.

//////////////////////////////////////////////////

0
FacebookTwitterGoogle +Pinterest
previous post
NSA announces new artificial intelligence security center: ‘Desperately needed’
next post
Here’s a Scary Scenario for You: S&P 500 Downside to 2200?!?

Related Posts

Buy the Dips!

July 7, 2023

Week Ahead: NIFTY Stays In A Defined Range;...

February 19, 2024

Market Pullback? Follow These Charts!

February 15, 2024

Macro Model Gives Mixed Signals as NFLX LIGHTS...

January 25, 2024

Emerging Market Bond Fund ETFs Look Good

July 15, 2023

Week Ahead: Corrective Undertone To Persist So Long...

August 27, 2023

Is the Market Ready for Another Dip?

January 13, 2024

S&P 500 Breaking Out Again: What This Means...

September 20, 2025

Sector Spotlight: Stocks vs. Bonds –The Clear Preference

December 22, 2023

AI Stocks Ignite Again—Where Smart Money is Heading...

June 24, 2025

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Latest

    • S&P 500 Breaking Out Again: What This Means for Your Portfolio

    • Gold’s Meteoric Rise: Can the Price Break US$4,000 in 2025?

    • COB: Repayment of Promissory Note

    • Lo Herma Resource Drilling Timing Confirmed

    • Reinstatement to Quotation

    • Tariff Talks: Swiss Propose Investment in US Gold Refining

    Categories

    • Business (1,395)
    • Investing (2,975)
    • Politics (3,699)
    • Stocks (1,807)
    • Uncategorized (20)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: MoneyControlPlace.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 moneycontrolplace.com | All Rights Reserved