Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Stocks

Only 3 Of The 7 Mag Stocks Are Worth Owning Right Now

by October 20, 2024
October 20, 2024
Only 3 Of The 7 Mag Stocks Are Worth Owning Right Now

The “Magnificent 7”, comprised of Apple (AAPL), Microsoft (MSFT), NVIDIA (NVDA), Meta Platforms (META), Amazon.com (AMZN), Alphabet (GOOGL), and Tesla (TSLA) have carried the S&P 500 during this secular bull market – since its breakout in April 2013 above its 2000 and 2007 highs. Here’s a weekly chart of the S&P 500 during this secular bull market, with 7 price panels below, each highlighting the relative strength of one of the Mag 7 stocks:

These Mag 7 stocks have seen their market caps EXPLODE during this bull market and they’ve become a larger and larger representation of the S&P 500 as a result, because the S&P 500 is a market-cap weighted index.

Heading into their next earnings reports, however, I only see 3 of these 7 stocks showing solid relative strength vs. its peers – AAPL, NVDA and META. In my opinion, NVDA is the strongest and is likely to have a very strong run higher into its November 20th quarterly earnings report. Check out its excellent relative strength and rising AD line:

It’s hard to find something not to like about NVDA’s chart. The AD line has continued to climb, even while its price was consolidating/declining. Relative strength has done the same. The overall market must face the worst week of the year historically this upcoming week, but otherwise, the coast is clear for yet another breakout on NVDA.

During my weekly market recap, “Which Mag 7 Stocks Should YOU Own?”, I discuss the charts of all Mag 7 stocks, along with an overview of last week’s stock market action. I showed a few interesting RRG charts to easily visualize strong areas of the market. Be sure to check out the video by clicking on the link above. Also, I’d really appreciate you hitting the “Like” button and the “Subscribe” button, as we build out our YouTube community. Thank you so much!

Relative Strength

I cannot overemphasize the importance of relative strength, especially when it comes to quarterly earnings reports. Wall Street talks to company management teams throughout the quarter and gets a strong sense of which companies are executing their plans flawlessly and which companies aren’t. This shows up in their stock price and how they perform relative to their industry peers. I’d struggle to trade during earnings season without this one very critical piece of technical information.

Intuitive Surgical (ISRG) is an example of a stock showing excellent leadership among its peers. When its quarterly earnings absolutely blew away estimates, I was not surprised at all. The big Wall Street firms have been accumulating ISRG for months and months and clearly showing on the chart that ISRG was the best of breed. Check out ISRG’s relative strength and AD line heading into earnings…..and then its earnings reaction on Friday:

On the heels of beating both revenue and earnings estimates, ISRG jumped to a new all-time high. Owning stocks like ISRG will help you outperform the S&P 500 and will also help you meet your financial goals.

On Monday, I’ll be providing one of the best stocks, in terms of relative strength, that will be reporting in the week ahead. Simply SIGN UP for our FREE EB Digest newsletter (no credit card required) and we’ll send this chart to you first thing Monday morning!

Happy trading!

Tom

0
FacebookTwitterGoogle +Pinterest
previous post
DAVID MARCUS: Sorry Kamala, voters aren’t buying your Trump Hail Mary
next post
Speaker Johnson says now is the time for US, Israel to go after Iran: ‘Head of the snake’

You may also like

Bank Earnings Up — Time to Look at...

January 8, 2024

Sector Rotation Back in Line

September 27, 2022

Weekend Daily: Don’t Be Afraid of the Fed;...

October 8, 2022

Do Not Get Bearish While Transportation Leads

June 26, 2023

Your BEST CHANCE Winning Trades, Just One Click...

January 19, 2024

Market Timing for a Rule-Based Strategy

September 9, 2024

The Halftime Show: What’s the Fed’s Next Move?...

August 14, 2023

Sector Spotlight: Latest Drop in US Dollar Sending...

July 18, 2023

What Can We Expect from Stagflation?

April 27, 2023

Rocket Launches Fire Across Tech Space

May 26, 2023

    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.

    Recent Posts

    • Patel touts FBI’s dozens of convictions in $250 million Minnesota COVID scam

      July 18, 2025
    • Three Stocks in Focus: One Old Favorite, One Mag Name, and a Dow Comeback Story

      July 18, 2025
    • Don’t Hate the Player, Hate the Income Tax for Wrecking Health Care

      July 18, 2025
    • State Department says 59,000 tons of food assistance are in motion after reports of incinerated aid

      July 18, 2025
    • Pentagon to probe Microsoft’s use of Chinese engineers on sensitive defense systems, Hegseth says

      July 18, 2025
    • GOP senator reveals the ‘dirty’ secret to Trump’s Make America Healthy Again movement

      July 18, 2025

    Categories

    • Business (8,524)
    • Investing (2,134)
    • Politics (16,113)
    • Stocks (3,218)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.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 futureretirementsuccess.com | All Rights Reserved