Raw Transcript
Welcome to my view of the stock market. Today is Wednesday, April 1 or April Fool's Day and you're looking at a daily chart of the NASDAQ. The NASDAQ was down 7 and a half% in the first quarter of 2026. So they turning the page of the calendar from March to April certainly was beneficial for the NASDAQ. You could see it rallied 250 points or 1.16% on you know 1% less than the 50-day average volume. Uh volume was uh lighter than yesterday's volume when we had this snapback rally the counter trend rally. They're usually pretty strong. Made a low on Monday of 20,690. Had this powerful move 3.83% 83% on Tuesday and today followed through with a 250 point move or 1.16% um gain today. The problem is it rallied right up into resistance at the 21day line there. You could see that um 21 955 was the um 21 day today and it rallied up to 21 983. So just a little bit above it, closed a little bit below it. something to watch for. You know, Thursday, which is tomorrow, has been a really rough day in 2026. So, I don't expect anything different. A little bit of a pullback. We can start on Monday counting uh follow-through days as will be our fourth day. Today was day two. Yesterday was day one. Today is day two. Um so, maybe a little resistance, pullback, and maybe next week we can blast through these moving averages hopefully and have a V-shaped recovery. Uh that's kind of what we've been conditioned to and what I think a lot of people are expecting. But you I just take things one day at a time. That's all. The NASDAQ is still 2.2% below that black line which is the 200 day moving average. So it has some work to do and uh hopefully we can get it done. We just take things one day at a time. One thing that is helping the index here is uh the price of oil came down a little bit, you know, last couple of days and we'll take every little bit we can help. The Brent came down quite a bit. Brent is actually trading just about on the same price as WTI. Um so that's always a good sign. Both below $100 now, which you know still sounds pretty pricey, right? Anyway, I'm not going to go through the oil and gas stocks. I will save you that. I'm just going to say that the way I've done it, the way I've had success is to just buy leaders, own leaders during uptrends. Well, now we're not in an uptrend, right? But some of these stocks are still in uptrends even though the index is below its 200. And SanDisk is one that I took a flyer on. And this is definitely a proxy for the memory names leading stock in that group. And it kind of it's been doing the same thing um for a while now. Same type of pattern where it makes a new high then pulls back runs up sold off three weeks ago. 517 on the Monday of the let's say the 9th maybe. on March 9th. Yeah. And um yeah, March 9th there came down to 517, then rallied up, then pulled back just kind of like it did in the past, right? After making a new high, it pulls back. Make a new high, it pulls back. This time it undercut the 50 on Monday. It now rallied uh Tuesday and Wednesday. So the low on March 9th was we had kind of a wash out and then a rally 517 and the low on this Monday 3 weeks later is 558. So you're seeing a series of higher lows and you got to ask yourself why why can't the shorts or the bears you know push this thing below 517. They couldn't and now it's rallied back up to $700 today. And if it holds trend, which I think it's going to do, is take out that high, which which it's been doing, right? Um, making new highs, like higher highs, higher lows, 770760 on March 20th. So, very strong name above all of its moving averages. You know, undercut the 50 and has rallied now. Maybe a little extended here, 6.6% 6% above the five. But you know how powerful this stock is and how fast it moves. U wouldn't surprise me to take out the old high. In fact, I expected to, but you know, we'll see what happens. We have some we have announcements tonight, more fireworks ahead to look forward to. Um Micron had earnings and just had a ridiculous selloff here of like I don't know, seven out of eight days, something like that. Four, five, six. Yeah, seven out of eight days made that low yesterday and has rallied back up 31149 was the low today. The low was at 343. So I wouldn't let if I bought that stock I wouldn't let it trade below 343. A nice 9% move today up in hours after hours action. It's trading a little higher. WDC, another one of the memory names, undercut the 50 and rally that looks a lot like um SanDisk and the other one is a Seagate. Both of these had upgrades this week. This was up 8% undercut the 50. This one's got a nice uh consolidation pattern here, 459 to 342 and now it's above all its moving averages. So, the memory stocks were looking good to me. So leaders got to lead and if um you can't make money with the leaders, it's going to be tough elsewhere. So another area that I to is providing leadership is the telecom fiber optics group. This is the top group. This is Sienna. You can see it's only pulled back to its 21 on Monday. Bounced on Tuesday, 6% and another 7% gain today. So, I bought this one today and Zandisk just small 2% positions. Just probing and if the market falls apart, you know, I can sell it. If it uh continues to act well, then I'll add to it and get a full position. But, like I said, anytime the index is just so weak and in a downtrend, it's hard for me to get super aggressive on the long side. This one's cleared all of its moving averages, 10.6% above the 21. Made a high today of what, $421.99. So definitely uh strong stock, light. I heard some people saying they want to short this thing. I wouldn't. Uh I just wouldn't. I know the index is weak and it can't that 7 um 8380 the old high, you know, that's probably going to provide some resistance. I think it traded right up into that zone today about 784, something like that. What was the high today? 78489. Yeah. and it, you know, broke down a little bit from there, but it's a strong stock and it can Yeah, there's your little breakdown there, you know, to me. Yeah, that's uh it's too um it's cutting it too fine for shorting. I just wouldn't short it. I'd rather be on the long side if I was going to own this stock. But, um you know, I have Sienna. Both of those two are super strong names. A AOI, not so much. See, these guys only have um a couple of customers, so they're a little more vulnerable, I think. But technically, you know, it made that low on Tuesday and rallied up and today followed through. It was up to 95, closed at 86. So, let's look at that on a fiveminute chart. Yeah, shorts win the day there as it rallied up into a moving average and then got rejected. So, that thing has some work to do. VIA. This one above moving averages finding support at the 21. So, all systems go to take out that old high of 3808. You know, I'd rather be long than short even though the indexes are super weak. Uh we're seeing, you know, clearly, you know, higher lows here. And um yeah, why not make another higher high? VIV viva. VIA is the ticker symbol. All right. Couple other names here. I've got to get you. The data center plays I like a lot, but you know, like I said, it's tough for me to get super aggressive in this tape because one headline news and you get bombed out. Um, but this one's finding support at the 50 consistently. Uh, it was uh made a new high here recently, I believe last week, and then sold off like a lot of things. 129.94. Yeah. So, it's got work to do. Verive. Another one that looks good. Pulled back to its 50 for the first time on Monday, which is usually a gift. And this time it was. The low on Monday was um 231 closer to 259. So nice move there. I haven't looked at this one. This is definitely a data center play. Yeah, consolidating within a base. Not too bad. Uh BWX, BW, and BWXT. Yeah, Babcock. Not bad. Pulled back. It's It got that short report right here, then recovered, pulled back of the 21, found support on Monday. That one looks pretty good. And the other one was um BWXT. Uh BW Technologies is not bad. Consolidating within a base, you know, decent growth profile above its moving averages. So, looks like it has support there. Maybe resistance at that old high 220 area, but uh strong strong name looking good. Who else do I have here? Oh, the um of course the energy group, Bloom Energy. Kind of rough times here. Of course, a lot of stocks have sold off and this one is just right along with them. Made that low on Monday of I think about one one was it 116. Not bad. Rallied a little bit yesterday then pulled back today. GEV is definitely the leader in this group. Pulled back to the 50 for the first time since the breakout. Ran up on Tuesday and now, you know, heading for blue skies here at 912 is the high today. Its old high is 948. They could get there in a snap of a finger. Um or a tweet from the president would do it. Um the other group, another leading group, COR Coherent. This one had a sharp pullback below the 50 on Monday. Inside day on Tuesday, now above the moving averages here. Um just right at the 21. Yeah. So coherent looking. Okay. Um I I prefer Sienna and Sandis. Those are the only two that I really like right now to really, you know, bite sink my teeth into something. I want to own the leaders. Laser. [clears throat] This group is strong but not as strong as the others. This one pulled back below the 50 on Monday. Now has rallied back above. Got a little rejection there at the five today. So be careful with that when you got support and resistance with these. And glowworm the GLW another one above its moving averages pulled back to the 50 on Monday. Had an inside day and bounced nicely. So I know somebody in our group here uh owns that one and and I that's that looks like a good one to own as well. Um above the moving averages. You got to like it above the moving averages. Um when they fall below, um it's no bueno. Speaking of which, AXTI, which had been a big winner and now had that nasty volume bar here on the 30th, which was what, Monday, came in Monday, just look absolutely, you know, exhausted. Had an inside day on Tuesday and today fell out 17%. Yeah, I know some folks were short that one. I know it's below the 21. It looks like it wants to head down to the 50 there, which would be, you know, 35 area. That wouldn't surprise me at all. In fact, I expected TER, which had been such a monster, pulled back to the 50 and undercut it on Monday, rallied back above it on Tuesday, and now it's above its moving averages here today, going up 5%. Uh, so that one looks okay. It just kind of depends on how the market goes, right? I mean, if we have a V-shaped recovery, these things are going to be strong. If the market falls apart, these things are going to fall apart, too. So, yeah, just take it one day at a time. Marvel had a deal with um Nvidia. Yeah, break nice move here on Tuesday. It undercut the 21 on Monday. Nice move on Tuesday of 13%. Today, follows through with a 7 and a half% gain. So, Marll with big volume here. Let's take a look at the weekly on this one. Yeah, nice double bottom base pattern breaking out. So, I know a lot of people are saying breakouts don't work, but you know, it's up to each individual stock. TSM does not look good to me. It uh undercut the 50, then rallied back up to it today and got rejected. That looks like a short sell. 348 was the uh 50, ran up to 34868, got rejected, closed at 341. Let's see what that looks like on the five minute. So close were shorting. It looked, you know, pretty good. $67 move to the downside. Anyway, I'm going to look at some other names that I like that after um Sienna and Sandis. This is the one stock that I like. I I mentioned it in my post parade show this morning. I didn't buy it, but on Monday, it pulled back to its 21. Tuesday did not have an inside day because it made a high above the Monday high of 2910. Yesterday's high was 2917 and I had mentioned that I thought it was go time for this one to close at 3236. So, it's doing nothing wrong. I mean, it's surfing after the breakout on uh February 12th. This thing has just been surfing its moving average and doing nothing wrong. Higher highs, higher lows, you know, the definition of an uptrend. So, Fastley looks fantastic. Digital Ocean had that secondary offering. It pulled back to its 21 on Monday and now above its moving averages here. You can see 3.6% above the five, 14% above the 21. Super strong name here. Uh so there are some other areas besides those leaders in the fiber optics, photonics, memory, and of course the oil and gas and chemical names which I'm not going to go through today because I do it every day and I'm kind of tired of them. So I'll give them a day off because they they've been kind of taking the day off as well. AKAM, another you know software name just surfing the 21 looking good here. Closed at 115 today above its moving averages. So, you know, you got to like these stocks that are trading above their fives. Um, they're showing relative strength. NTCT Net Scout Systems, a computer software database, you know, has this uh cup with handle. Let's take a look at the weekly here. Yeah, that looks great. Had the three weeks tight, I believe. Made a new high today. 3301. Took out the 32.87 from last week. So yeah, 3301 uh new high for Net Scout Systems. Speaking of net, I I think this chart looks pretty darn good cup with handle. I mean, it's um right at the, you know, kind of the converging five and the 21 there and it's right at that moving average. So, if we can get good news tonight or maybe next week on the warfront, uh, this one I would definitely put on a a ready list for next week. But, you know, the market's got to cooperate and behave. You don't want to fight the tape. It's just too tough. ATN is another software name that's just, you know, blasting higher here. Uh, 2422 made a new high today. So, it's above all moving averages. So, you can't argue with that. It's telling you that it's, you know, wants higher prices, showing relative strength. So, another computer software name. So, I'm looking for new leaders and we're finding them in software and we're finding them also in our Taylor Swift trade and the biotech names in the ERS tour eras. This one broke above that 1641 that I talked about yesterday. And uh yeah, decent volume. You know, yesterday was above average, today average. But um you know, new highs. I'm a sucker for new highs. So that one looks good. Nectar is another one that looks really good. Consolidated first of all, you know, rallied through all its moving averages. Went sideways for a bit. That looks like it might be a 3 weeks tight pattern. Look at how look at how many weeks there just consolidated like a flat base. Now making new highs this week. So, nectar looks good. One that I like or a couple that I like, uh, immunome, this is in a, um, consolidating a base. You can see here between 2765 and 1981, you know, retested that low a couple times and now has rallied back up to the 50. It needs to get through at 2255, closed at 2245. So, that red line, the 50 is providing some resistance at this point. And then TGTX, they had their $300 million buyback program and broke above a downtrend line which hit that line like six times and broke above it on Tuesday, then rallied up today. Uh it was above 34, closed below it. But yeah, I kind of like this one here fundamentally. Yeah, 3433 was the high. Um so yeah, I like TGTX. Got that nice sales growth and earnings growth here. Uh, another name, DFTX. I'm not going to do what I did yesterday and bombard you with 30 biotech names, but I'm just going to point out these ones are strong. 9% move out of this consolidation pattern. See what that looks like on the weekly. I just like like a flat base. And this week, boom, up 15%. You can't argue with it. I would definitely like to see um the uh drug names do well and and provide leadership and be leaders like the memory names and the photonics and the um you know the fiber optics. This one made a new high today as well up 5%. This is Edw edgewise therapeutics. You can see it's been consolidating here in a base for a long time. Up 7 and a half% this week. O R K A. Okay, I'm I'm only going to do a few more. You can see it made a new high today. Uh BC AX real quickly made a new high. DNT more biotech, you know. Wow, look at this. Gapped up sideways now making new highs. Uh that's the DNT APG. This one's been uh really strong making into this nice little chart pattern. I'm a sucker for a chart like that. That looks good. Uh, give it some time, maybe a little handle, but it did make a new high today. And I'm going to stop right there. Go to the leisures. The leisure names. The sphere, you know, the sphere is u leisure and entertainment. [clears throat] Uh, making new highs today, up 2%. Not bad. OSW, we've talked about this one recently. The one spa um, making new highs today. It's been consolidating for a while. This to me is like your K K-shaped economy, the higher end of the K, the wealthier people going out living their best life. And uh anyway, Viking is another one kind of a boomer trade. Um you know, undercut the 50 now rallied back above today. So definitely one to watch because it's showing um um relative strength, you know, next to its peers, right? Our Royal Caribbean is just uh yeah, not looking good. Then Carnival, but Viking in comparison to its peers, this one looks really strong. So definitely one to watch. Anyway, that's it for me. Thank you for watching mcstocktrs.com. We never give up. Except in honor of the great Steve Jobs, which started uh Apple 50 years ago today in his garage there in PaloAlto, or no, it wasn't Paloaltos, Los Altos. He was a homestead high kid. So he had to live in Los Alto. It's not Peloto and he started it with the was in 1976 on April 1. So not an April Fool's joke today. Um so Apple, happy birthday Apple. They didn't go IPOed I think till about 1980, but he started in his garage April 1 and then he got some funding and then they went public and the rest is history. But uh hats off to Steve Jobs, Tim Cook, Steve Waznjak, the folks at Apple um starting the one of America's greatest companies uh back out of his garage. His dad was u helped him a little bit too. Anyway, I do have one more thing and then you saw the um the uh memory stocks were up. PE NG Penguin Solutions, a computer data storage name uh reported earnings tonight, up 13% after hours. I don't think you know uh it's less than a billion market cap has the uh cache to move a SanDisk or a micron, which is what a uh 414 billion market cap. But still, I mean, it's still good to see uh you know, positive news coming from this group. Pure Storage not feeling the love at all. But uh yeah, some of these others. Yeah, Seagate, Western Digital. We'll just have to watch and see what uh the president says tonight. And I'll be back in the morning with a post parade video. And um we'll see how the market goes, but tomorrow will only be day three. And then uh we have Good Friday. It'll be off on Friday, so a three-day weekend. I would expect people don't want to hold stocks into the weekend. probably expect another nasty u Thursday towards the end anyway. Um but we'll see what happens. Our friend Fletch doesn't have the guts enough to buy SQQQ ahead of Thursday, but he knows the Thursdays have been nasty. And anyway, have a great evening everyone. Uh and never give up.