Insiders Advisor
  • Stocks
  • World News
  • Business
  • Politics
  • Stocks
  • World News
  • Business
  • Politics

Insiders Advisor

Stocks

Core PCE Data Has Powell Pleased – May Set Tone For Q2

by March 30, 2024
March 30, 2024
Core PCE Data Has Powell Pleased – May Set Tone For Q2

The Fed’s preferred gauge of inflation was released today and, according to Fed chief Jerome Powell, “it was good,” as there were no ugly surprises. This news could boost the markets, as sticky inflation data has had investors on edge amid interest rates that have remained relatively high. The stock and bond markets were of course closed today, however, so we won’t see a response from traders until next week.

Overall, we’re heading into next week on good terms, with the Dow, Nasdaq and the S&P 500 at new highs with small-cap stocks in an uptrend after posting an impressive 2.5%. In other positive news, we’re continuing to see a broadening out of participation well beyond the Magnificent Seven stocks which dominated last year’s top performance lists.

Daily Chart of S&P 500 Index

With so much bullish behavior, it may be difficult to determine where to focus your efforts so that you can outperform these strong markets. From my work, honing in on companies that have strong growth outlooks will always pay off, particularly during a bull market phase such as now.

Many of these faster-growing companies — particularly in Technology — have seen impressive returns year-to-date already, with consolidation phases needed before another leg up. Instead, I’m looking for stocks in areas such as Healthcare, which have entered a new uptrend after trending sideways over the past 3 weeks. While normally viewed as a defensive area of the markets, there’s plenty of fast-growing companies amid the development of new drugs and medical products.

Daily Chart of Healthcare Sector (XLV)

A prime example is Eli Lilly (LLY) which was added to my MEM Edge Report’s suggested holdings list in early January. In addition to the company’s popular weight loss drug Zepbound, which was approved late last year, The company is on track to see their Alzheimer’s drug approved next quarter.

LLY has been trending upward in a tight trading range in anticipation of this FDA approval, and this recent period of consolidation has allowed the stock to recover from an overbought condition during February. A close above its recent high of $800, coupled with a bullish MACD crossover, would put the stock into a strong buy zone.

Daily Chart of Eli Lilly (LLY)

Other newer areas are also beginning to emerge, and if you’d like to be alerted to new buy ideas in these areas, use this link here to trial my twice weekly MEM Edge report. You’ll also receive in-depth information regarding broader market conditions as well as sector rotation that’s taking place and why. I hope you’ll take advantage of this offer!

Warmly,

Mary Ellen McGonagle

MEM Investment Research

previous post
Which Magnificent 7 Stock Would You Pick for Q2?
next post
MEM TV: Small Cap STOCKS SHINE! 4 Names to Play the Strength

Related Posts

SCTR Report: American Tower is Breaking Out Now;...

October 15, 2024

Consumer Discretionary New IT BULLISH Bias

August 16, 2024

The Best Five Sectors, #4

January 25, 2025

Here’s How To Find The Best Upcoming Earnings...

January 19, 2025

This Is What I Mean By Leading Stocks...

May 9, 2024

MEM TV: Small Cap STOCKS SHINE! 4 Names...

March 30, 2024

Apple Blasts Through $200 On AI Optimism

June 12, 2024

Salesforce Falls Out of Favor: Trade the Bear...

May 14, 2024

Mid-Caps Make a Statement with a Breadth Thrust

January 18, 2025

Gold and Silver Set to Smash Records: Could...

May 17, 2024

    Fill Out & Get More Relevant News


    Stay ahead of the market and unlock exclusive trading insights & timely news. We value your privacy - your information is secure, and you can unsubscribe anytime. Gain an edge with hand-picked trading opportunities, stay informed with market-moving updates, and learn from expert tips & strategies.

    Latest News

    • ‘Bait and switch’: Schumer warns of bitter funding fight over GOP cuts plan

      July 8, 2025
    • New book exposes Jill Biden’s power grab amid husband’s political demise

      July 8, 2025
    • DeSantis not keen on Musk’s new political party, has another idea for disrupting DC

      July 8, 2025
    • US will ‘have to’ send weapons to Ukraine, Trump says days after Pentagon pause

      July 8, 2025
    • Key advisor called Hunter Biden’s role on strategy call ‘inappropriate’ after he overruled legal guidance

      July 8, 2025
    • Former Biden doctor asks to delay testimony to House committee investigating mental fitness

      July 8, 2025

    Categories

    • Business (1,296)
    • Politics (6,304)
    • Stocks (904)
    • World News (460)
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: insidersadvisor.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 © 2024 insidersadvisor.com | All Rights Reserved