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Palo Alto Networks

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Granny Shots
Upticks

Ticker Appearances

Mon, December 9, 2024 | 11:23AM ET

⚡ FlashInsights

Mon, December 9, 2024 | 11:23AM ET
Mark
Mark L. Newton, CMT AC

Head of Technical Strategy
🔥 🔥
Today's early weakness is reaching multi-day lows for the first time since early November though market breadth today is positive by 3/2 as seven sectors are positive out of 11, with Materials and Healthcare up more than 1%. The decline in big-cap Tech however is what many investors are concentrating on and FI 1.46%  AMD -0.90%  PANW 1.85%  NVDA -1.43%  PLTR 1.43%  are all down more than -2.75%. An end of day finish at multi-day lows, particularly if breadth gets worse would make the case for a mild selloff which might last into FOMC but one which should provide buying opportunities. Oddly enough, today's positive breadth on negative SPX price action is nearly the opposite of what happened all last week when prices rose while breadth was negative. Initial support levels for ^SPX 0.14%  lie near 6042, then 6017
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Upticks
Fri, November 22, 2024 | 7:21PM ET
Mark
Mark L. Newton, CMT AC

Head of Technical Strategy

Upticks - November 2024

UPTICKS - NEWTON'S LAW Source: Fundstrat, Bloomberg UPTICKS ADDITIONSCintas (CTAS 0.92% - $221.76)Deckers Outdoors (DECK 0.76% - $192.15)Salesforce. com (CRM 1.40% - $342.02)Palo Alto Networks (PANW 1.85% - $383.36)Progressive Corp. (PGR 1.69% - $266.06)Consolidated Energy...

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Daily Technical Strategy
Tue, October 8, 2024 | 6:35PM ET
Mark
Mark L. Newton, CMT AC

Head of Technical Strategy

Software breakout should help drive further relative strength within Tech

SHORT-TERM US EQUITY TRENDS LOOK TO HAVE TURNED BACK HIGHER LAST FRIDAY FOLLOWING A CHOPPY PERIOD OF CONSOLIDATION IN RECENT WEEKS.   DESPITE A PLETHORA OF...

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Tue, October 8, 2024 | 12:07PM ET

⚡ FlashInsights

Tue, October 8, 2024 | 12:07PM ET
Mark
Mark L. Newton, CMT AC

Head of Technical Strategy
🔥 🔥 🔥
Time to refresh comments on IGV 1.09% , the Ishares expanded Tech-Software ETF, as this is now exceeding 90, and officially breaking out above two prior peaks from this year along with Nov 2021 in a very bullish Cup and Handle pattern back to new all-time high territory. While Semis still are outperforming Software on an intermediate-term basis, Software has shown better relative strength since this Summer. Note, this Software outperformance is not the normal MSFT -0.29%  led rally. Rather, it's being led by PLTR 1.43% , ORCL 1.56% , NOW 1.53% , and strong movement out of the likes of CRM 1.40% , PANW 1.85%  which i suspect should rally back to all-time highs. (More on this topic in tonight's report)
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Thu, August 29, 2024 | 11:58AM ET

⚡ FlashInsights

Thu, August 29, 2024 | 11:58AM ET
Mark
Mark L. Newton, CMT AC

Head of Technical Strategy
🔥 🔥
^SPX 0.14%  looks to be kicking off its push back to new highs with about 10 more trading hours left in the month of August. As you can see, the short-term hourly trend connecting former minor peaks since this past Monday has been exceeded. this should drive price up to 5682, then 5700. Breadth is a bit better than 2/1 bullish and volume also 2/1 positive. 9 of 11 sectors are positive and the only down sectors are defensive- REITS and Staples. While Energy, Industrials, Discretionary, Healthcare and Tech are all up more than +0.75%. Despite NVDA being down fractionally (At 6% of SPX), SPX is still managing to push higher by +0.68%, led by BBY -1.55%  COO -2.38%  CRWD 1.93%  WST -3.13%  HPQ 0.15%  GEV 4.21%  PANW 1.85%  QRVO 1.40%  and INTC -0.26%  all higher by more than 4% today
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