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- May 20th Stock Market Update - NASDAQ hits an all time high, as market wont quit
May 20th Stock Market Update - NASDAQ hits an all time high, as market wont quit
$VRT $MMYT $ESTC
Mukund Mohan
May 20, 2024
Market
“Nvidia drove the market higher, while NASDAQ the technology index moved back to All-time-high territory. With absence of bad news or good its going the only direction markets go in the long term - UP” 😊 😋
Mixed market indices, but good NASDAQ (which was down in the last few days is up)
In the absence of any major bad news (most of which have been factored in), the market tends to go in the direction of the long term trend - UP. Continue to look for stocks that are executing & guiding well in this market.
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Strong move from technology thanks to all the technology sector stocks
Nvidia continued to indicate it will have a strong quarter, but Palo Alto Networks tumbled down 8% on news of an inline quarter and inline guidance. The stock has moved up 15% or more since the low of $274, so this is warranted.
Insights from the portfolio
Video of the day
Today’s video is on Elastic $ESTC the search and indexing company, with strong move in Observability and Security.
