Thus far in 2024, all stock market lights are flashing green. January was up, and there has been a string of consecutive up months. There are four more days in February and it appears highly probable that February will be added to this list of bullish months by Friday. Daily, there have been a multiple number of new highs over new lows, confirming the seasonal and momentum indications. This next week benefits from the end-of-month bullish effect. The next likely short-term high is due on March 5th.
The communications services sector is top ranked for relative strength. It has been strong in the rankings for over a year. This sector has a shorter price history than most others, but the 16-month relative uptrend is clearly evident in the graph below. Further gains are likely.
Communications Services (XLC
XLC
Within this area, Qualcomm
QCOM
Qualcomm Daily, Weekly. Monthly
Qualcomm Monthly Histogram
Nordson Corporation manufactures, and markets products and systems to dispense and apply control adhesives, coatings, polymers, sealants, bio materials, and other fluids. Nordson
NDSN
Nordson Daily, Weekly, Monthly
Nordson Monthly Histogram
Eugen Boglaru is an AI aficionado covering the fascinating and rapidly advancing field of Artificial Intelligence. From machine learning breakthroughs to ethical considerations, Eugen provides readers with a deep dive into the world of AI, demystifying complex concepts and exploring the transformative impact of intelligent technologies.