It is a tuesday, as you could tell i’m, not in my usual location, i’m. Actually in new hampshire in lake winnipesaukee. This was a trip we were supposed to take with the family. Last summer, but covet hit and well you all know what happened so we’re making up for it this year. So looking at the s p the market’s going to open up in about an hour and 40 minutes. As you can see, the nasdaq is up like there’s. No tomorrow, meanwhile, the dow’s down a little bit the s p is flat, there’s, definitely something going on in the nasdaq 100 and i’ll get into that in a minute. Let’S talk about global economy, the biggest biggest thing this week. Aside from china, you’ve got expectations of u.s corporate profits. They are high and companies releasing their quarterly results. Banks are up this week. The earnings are expected to search 64 from a year earlier. According to fact said, this would be the biggest year over year, growth since 2009.. This is the first time that corporations have to stand on their own. They can’t use covet as an excuse anymore. It’S been it’s. This is the time to see whether they can run. This is the time for the big boys to shine. Now. Stocks have risen sharply in the past year on expectations on expectations that corporate profits would rebound once the pandemic ended we’re going to see that without strong profits, it’s going to be difficult to justify the valuations of where they’re at right now, and on that note, jp Morgan profits, more than doubled, beating expectations that’s already out uh.
We also have, i believe i know we have a bunch of bank stocks. This week, we’ve got wells, fargo we’ve got jp morgan. As they’ve already reported, we got blackstone we’ve got goldman sachs we’ve got morgan stanley and as well as others, so we’re going to get a really good idea. This week and next week how bank stocks are doing. Aside from that chinese june export growth 32 year over year, that is really really good. That means that import and export, or at least export, is working we’re, not really concerned about chinese import. We don’t really import a lot of stuff to china, but chinese china exports a ton of stuff to the us and all over the world and that’s telling us that china is beginning to come back into its form again now, if we look at the stock fetcher Code, i wanted to show you the top sectors and folks i’m, going to tell you right now. This earnings quarter, the nasdaq has to exceed expectations by such a wide margin that it’s really really hard. So we got to be very careful with tech stocks and on that note, let’s look at every sector, so real estate is bullish, but maybe a little bit overbought right now technology is overbought. This is look at this trend. This needs to pull back. So does this communications, on the other hand, has been congesting and consolidating? I think communications can have a little bit more upside and again i just want to go through each of these sectors.
Energy sector, i think, is going to come up maybe to the 55 56 level. It is making lower highs. But remember energy is a long term trend and i think we’re just waiting for the earnings numbers to see how they do so. I wouldn’t write off energy. Just yet and it’s not overbought, i like the financial sectors. I think we’re going to see a major rally in the financial sectors. Don’T expect don’t be surprised to see don’t be surprised to see financials hit the ‘ level before the earnings period is over the xlf sector. Then we’ve got healthcare. I think healthcare and technology see tech and healthcare and real estate. Just look a little overbought right now. Now here’s, where i like it consumer discretionary, is way overbought right now like way way overbought. This is ex. This is show look at the nasdaq 100. Look at the price chart of the sucker look at the rsi 84.. I want to go back. I want to see if this is the highest momentum levels we’ve seen. No, it has it’s not but it’s the high look at the divergence man, oh man, folks, we are way overbought, don’t, exp, don’t, be surprised to see the nasdaq 100 hit the 50 day moving average. But again, as far as remember, the nasdaq 100, mostly has consumer discretionary and technology stocks right. Look how overbought this is. I mean that’s just way, overbought and look at consumer discretionary way overbought, but look at industrial look at this thing, just breaking a little higher.
I think industrial is going to have a beautiful run up. I think basic materials is going to have a beautiful run up. I think financial is going to have a beautiful run up, not so sure about utilities may come up just a bit and consumer staples may come up a bit because consumer staples – and there may be some good news with with costco um, with with stores such as Um lows and so forth, because people are getting fearful of covet. There is another spike in kovitz, so consumer staples may start coming up, but what i like right now, what i really like right now is: i love the industrial. I love the basic material. This thing looks like it can just come up nicely here. Looks like it’s got a rounded top a rounded bottom, not a lot of risk. Not a lot of high end risk here, but look how overbought the tech sector is. Look. How overbought real estate is um. Look how overbought consumer discretionary is it’s, just look at that that that can’t sustain itself, but i like industrial and i like basic material right now. Those are the two sectors that i’m really bullish on right now now let’s look at the stock fetcher csi scan now we’re. Looking at the s p 500. I wanted you guys to see which stocks are really moving in the s. P. 500. Remember: l brands. How long have i been talking about l brands? Let’S go back six months, let’s see if l brands was on there.
I got stuck, i hate when it gets stuck. Let me go to my filters. Hopefully you’ll get unstuck man something’s up with stock fetcher. So let’s look at the nasdaq for now. We’Ll come back to the s p. Look at the nasdaq. This is the nasdaq 100 modern, nvidia ide xx. What stocks do i like here, docusign docusign, is making a comeback. Paypal is making a comeback. I like these two and i like adobe, adobe paypal, docusign now let’s see if we can look at the net at the s. P. 500. For some reason: it’s stuck huh, that’s, really strange, let’s see if we could do it. This way, nope stuck very strange. Doesn’T want to cooperate with me, so the stocks. What i wanted to tell you was this: on the s p. 500 stocks. I think this is it. Oh, i think we just got it yeah. We just got it. Okay. There we go. I guess it pays to be a little patient. The internet is not as fast here as it is back home in pontivitra. So what i wanted to show you was aside from the fact that l brands has been on the scan now for uh um six. Seven months now, the stocks that i noticed there’s not – and this is the s p 500 now nvidia – is a fan, stock and it’s. Doing really really well and fortinet is doing well, but look at most of the stocks in the s p 500 that are rallying hard.
You’Ve got u.s marathon energy, diamondback energy stocks, uh dxc tech is not really a hardcore tech company it’s more of like a supply company, devon energy capital, one waters, metal, company, occidental, petroleum it’s, not targets on here discover financial services it’s pretty broad, and i like that. Right now i, like the s p i like, where we’re at i love these extra space storage spaces. I like waters as far as new stocks on this list, gartner group, i t let’s, take a quick look at it. Oh look at this beautiful trend and notice. It’S going sideways sideways and it’s just now. Picking up now, if you look at the profile of this stock, you will see its information technology and remember what i said about information technology, communication services, that’s info technology, it’s, not looking it’s bad it’s, consolidating, whereas technology is just stretched out and consumer discretionary stretched out. But i like information tech right now. The stock had a 115 return it’s a russell 1000 stock it’s got a market cap of 22 billion, so it’s, not a small company but it’s, not a huge company, but overall overall, this stock is new on my scan and you guys know when something pulls up On my scan, like l brands, this thing’s been on for like six seven months in the top five i’m, not kidding so his new core, so his waters so has capital. One so is dxc. Fang has been on here for probably four or five months and so has mro.
So when they get up here, they tend to be very, very sticky. Now i know we’ve got earnings on the table right now. We’Ve got financials don’t, be a hero. Don’T don’t go into stocks before earnings, give them about a week or a few days. Let the stock report the stock will see a run up after earnings too. You won’t miss out when you’re getting a stock right before earnings comes out, you’re really taking a big gamble, so stay away from the financial stocks till they have reported stay away from tech stocks till they have reported and by the way, stay away from tech and Consumer discretionary now this is not a time to be a hero. All right, i think i’ve said enough, be very, very cautious and take a look at um. I ticker. I t gartner group now i’ve got something important, something timely for you. Folks, we’ve all heard of insider trading right we’ve, all heard of it it’s unethical it’s, indefensible and punishment jail. It fits the crime. What are you gon na do, but this doesn’t stop corporate insiders from using their information advantage by entering trades before others bulking up their wealth they’re becoming rich at your expense. Meanwhile, meanwhile, everyone else is left scrambling to get in after their shares have catapulted the stocks value to new heights. How dare they? These corporate insiders are literally pumping their own stocks and doing it 100 legally and laughing at you.
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