Dow Jones futures will open Sunday evening, along with S&P 500 futures and Nasdaq futures. The stock market rally suffered losses last week, with breakouts and key sectors struggling, though the major indexes bounced on Thursday and Friday.
ASML (ASML), Google parent Alphabet (GOOGL), Maravai LifeSciences (MRVI), Goldman Sachs (GS) and Nutrien (NTR) held up well. All five stocks are in buy zones or flashing early entries. But they also boast relative strength lines at or near record highs.
The RS line, which tracks a stock’s performance vs. the S&P 500 index, is a great way to spot the true leaders in any environment, including the current choppy market rally.
The RS line, the blue line in the charts provided, also spots false leaders. Apple (AAPL) regained its 50-day moving average on Friday and showed some other positive technical signals. But the RS line for Apple stock is right at nine-month lows, according to MarketSmith…