Futures for the Dow Jones, S&P 500, and Nasdaq indices will open Sunday evening. Nvidia and other AI chip companies are currently in the process of forming new bases.
Last week, the stock market experienced a slight pullback, with a significant downside reversal on Thursday. However, the major indexes bounced back on Friday. Some leading companies showed buy signals, but there were also false signals. Many of these companies are close to potential entry points or are forming new consolidations.
Investors should closely monitor these developments and consider making incremental investments while keeping in mind the current range-bound market.
Nvidia faced a decline last week but is close to establishing a new base. Other companies, such as Broadcom, Taiwan Semiconductor, and Astera Labs, are also in the process of forming potential bases. ARM Holdings has already established one, while Super Micro Computer, closely associated with AI chips, is also forming a base.
Despite facing setbacks, Tesla saw a jump in its stock price following positive news about unveiling a robotaxi. Companies like Nvidia, Broadcom, and Super Micro are prominent players in the AI chip industry.
The Dow Jones futures will open on Sunday at 6 p.m. ET, along with the S&P 500 and Nasdaq 100 futures. It’s essential to remember that overnight activity in futures may not accurately reflect the next regular trading session.
In conclusion, while the stock market experienced fluctuations last week, there is potential for further growth. Investors should remain cautious, wait for clear signs of strength in the market before making significant additions to their portfolios. Keeping an eye on emerging opportunities, like those in the AI chip sector, can help in making informed investment decisions.
