Global stock markets and U.S. futures were flat this morning as investors await details on President Joe Biden’s $2 trillion infrastructure and economic recovery package.
The Invesco QQQ Trust Series 1 (Nasdaq: QQQ) is still trading way below its 50-day moving average, which means large-cap tech stocks are choppy, though, up about 0.6% just before the opening bell. And it’s having somewhat of an impact on the SPDR S&P 500 ETF Trust (NYSEArca: SPY), too.
The SPY would be trading much higher. However, it’s already trading above its 50-day moving average, so that’s telling us the congestion or downside pressure is isolated.
That’s great news for us. Here’s why…
In today’s video, I have more on when large-cap tech could begin trending… whether bonds will break down further… why small-cap stocks are weakening… which major index is leading higher… and the top four stocks ready to trade higher.
The first stock can be found in the basic Materials sector. I told you a few months back that this stock is going to rally, and it’s now up 84% the past 12 months!
P.S. I bet you didn’t know this, but there’s a little-known glitch in the market that’s causing certain stocks to skyrocket…
And we’ve seen this glitch pay out double-, triple- and even quadruple-digit gains in just a week’s time!
So now Wall Street legend and Forbes contributor Adam Sarhan is revealing the secret behind this market glitch that has made millionaires out of everyday traders in just a handful of months…
In other words, no one can afford to miss this.