Took at look at bellwether stocks. With the exception of TWTR and NVDA, all are oversold on last week’s volatile market action to the downside.
With the market also oversold, it’s likely these market-leading stocks are going to jump this week. Good for a scalp at the least, and maybe even an upside swing if the market can manage a few positive days.
The bellwethers are AAPL, AMAZN, NVDA, TSLA, NFLX, GOOGL, BIDU, BABA, TWTR, FB, FSLR, BID, and GS (see the charts below).