Dreams Come True in NVDA & TSLA! Plus 24 More Breakouts!

It's Risk On Until Further Notice! Grindr, Pelton and SOFI are all hitting new highs! We have over 26 breakouts this week.

Author

Bootleg Macro
November 10, 2024

Dreams do come true. When I wrote, “Prepare to be Bullish and Bored” I expected this week. Uncertainty clears and markets rally. A dream come true!

The market is on fire 🔥 with breakouts across major indices reminiscent of the post-2016 surge. Trump’s return to the White House 🇺🇸 has injected fresh optimism, sparking interest in stocks hitting new highs across various sectors. This rally isn’t just about the big names; it’s a broad-based surge capturing both large-cap giants and promising smaller-cap stocks. Investor sentiment is back, and the appetite for risk is stronger than ever 🚀.

In the $20+ category, tech and financial services are leading the charge. Heavyweights like NVIDIA (NVDA), Tesla (TSLA), and Visa (V) are making significant moves, echoing the robust growth seen in these sectors in 2016-2017.

Insane 1 year return!

Notably, Costco (COST) and Netflix (NFLX) highlight consumer strength, proving that resilience is alive and well in today’s market. Meanwhile, rising stars in the $5-$20 range, such as SOFI, RKLB, and SONY, show that investors are betting on smaller players too, seeking growth across a wide array of industries 🌐.

Beyond the sector standouts, what’s striking is the consistency of bullish signals across both tech and finance. Robinhood (HOOD), Garmin (GRMN), and Oracle (ORCL) are climbing, backed by solid volume and high investor interest 📈. These aren’t isolated moves; they’re part of a larger wave that’s redefining market resilience. Investors are piling into established names while still finding space for high-growth, emerging stocks. This balance between reliability and risk is keeping market momentum strong, attracting fresh capital and new participants eager to ride the rally.

What a master piece of a 1 year return!

Right now, this feels like one of the best times to be in the market. Broad-based gains and bullish signals across the board signal a “Risk On” environment that’s drawing both seasoned investors and newcomers. This rally has the excitement of 2016, but with fresh faces in the game and a renewed sense of confidence. For those keeping an eye on history and trend lines, it’s a thrilling moment where optimism and opportunity meet 🌄.

At the same time, sentiment is powerful and infectious. With major indices signaling “Risk On” across the board, the market feels primed for new highs. This is a moment for both experienced investors and those new to the game 💼. The resilience we’re seeing across diverse sectors, from T-Mobile (TMUS) in telecom to Stryker (SYK) in healthcare, paints a clear picture: confidence is back, and the market is open for business. For those watching closely, this is more than just a bullish phase—it’s a potential shift into a new era of growth and optimism 🌅.

- Dustin

Market Performance

This week, we’re not just seeing high-profile breakouts; we’re witnessing a sustained market shift driven by steady momentum over the past three to six months 📈. Major indices like the .INX (S&P 500), .DJI (Dow Jones Industrial), and .IXIC (Nasdaq) are all reflecting bullish trends, with strong weekly and daily sentiments supported by underlying signals. This isn’t a flash in the pan – it’s a broad-based rally built on solid foundations, bringing a range of sectors into the spotlight and keeping the “Risk On” sentiment alive across the board.

SPY is the easiest stock to be long I’ll wait for the pice to get closer to the action line. Patience.

Price is above the range (due to the sentiment being bearish) so we can wait for a reset.

Tech is is the clear winner this week. Up nearly 6.5% for the week. Buy individual tech pullbacks in the index. Easiest money in market.

Tech giants like NVIDIA (NVDA) and Tesla (TSLA) continue to set new highs, riding waves of investor interest that have persisted and grown over recent months. In financials, Visa (V) and Robinhood (HOOD) show similar strength, while consumer-facing stalwarts like Costco (COST) and Netflix (NFLX) prove that resilience extends into retail and entertainment. The consistent positive sentiment in the VIX and VVIX indices indicates a market more comfortable with risk, suggesting that traders and investors are both confident in current conditions and optimistic about what’s to come.

For those tracking the numbers, these aren’t just short-term gains – they’re steady, substantial moves that hint at a deeper market trend. Volume patterns across major indices show increasing engagement, particularly in key sectors, while falling correlations with the U.S. dollar ($) suggest a decoupling that could fuel even more growth as the dollar stabilizes. The signs are clear: from small-caps to blue-chip stocks, the market is alive with opportunities that aren’t just short-lived rallies but potential long-term shifts.

Volatility Corner: Volatility Outlook: VIX & Turbulence Signals 🌪️

As we head into year-end, volatility indicators are showing a mixed picture of calm with underlying caution. The VIX has dropped to $14.94, down 31.72% over the past five days, signaling a “Risk On” sentiment as market participants feel comfortable with the current stability. However, both weekly and daily sentiment remain bullish, hinting that this low-volatility phase could quickly reverse if conditions change. With VIX correlation at 100% and a rising trend in VIX rolling, we’re watching for any sudden spikes that could disrupt this calm.

Vix collapsed as I suspected last week. Down 31% for the week, incredible.

The Turbulence Indicator adds another layer of caution. While the current setup suggests stability, the 23 week broke above the 10 week for the first time in a long time. Indicating a bullishness.

Together, these indicators suggest a steady outlook we can easily hit the peak of 7.0 like the similar rallies in 2023 and 2024. That can mean volatility but upward, that’s fun. That’s gap opens.

A turn up in the blue line is very bullish.

Watch this continue to collapse

MACRO INDICATOR:

Rapidly things are changing in the VIX. RISK IS ON.

  • MACRO SEASON: BULLISH Since 8/24/24🟢

  • MICRO WEATHER: BULLISH Since 11/8/24🟢

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New Highs $5-$20:

  1. GRND - Grindr Inc - Technology - USA 🇺🇸

  2. PTON - Peloton Interactive Inc - Consumer Cyclical - USA 🇺🇸

  3. SOFI - SoFi Technologies Inc - Financial - USA 🇺🇸

  4. WRBY - Warby Parker Inc - Healthcare - USA 🇺🇸

  5. SONY - Sony Group Corporation ADR - Technology - Japan 🇯🇵

  6. RKLB - Rocket Lab USA Inc - Industrials - USA 🇺🇸

  7. SRAD - Sportradar Group AG - Technology - Switzerland - 🇨🇭

  8. ZVRA - Zevra Therapeutics Inc - Healthcare - USA 🇺🇸

  9. LUMN - Lumen Technologies Inc - Communication Services - USA 🇺🇸

  10. PLYA - Playa Hotels & Resorts N.V - Consumer Cyclical - Netherlands 🇳🇱

  11. CRK - Comstock Resources, Inc - Energy - USA 🇺🇸

  12. AVPT - AvePoint Inc - Technology - USA 🇺🇸

  13. BTSG - BrightSpring Health Services Inc - Healthcare - USA 🇺🇸

GRND - Grindr Inc - Technology - USA 🇺🇸

Give this some time to cool off before buying into it.

PTON - Peloton Interactive Inc - Consumer Cyclical - USA 🇺🇸

Huge breakout but still below the top of the range. I’ll buy on

SOFI - SoFi Technologies Inc - Financial - USA 🇺🇸

A beautiful breakout with a trend beyond what we think is possible over the course of 3 months.

WRBY - Warby Parker Inc - Healthcare - USA 🇺🇸

These big names are getting bids - people love the big brands when they are breaking out. Easy press too.

SONY - Sony Group Corporation ADR - Technology - Japan 🇯🇵

Big opportunity in my opinion as this has a big opportunity to show more strength.

RKLB - Rocket Lab USA Inc - Industrials - USA 🇺🇸

An insane move - Rocket is right!

SRAD - Sportradar Group AG - Technology - Switzerland - 🇨🇭

It was a nice trend until the past week blew it out of the water bullish. This will need time to marinate.

ZVRA - Zevra Therapeutics Inc - Healthcare - USA 🇺🇸

LUMN - Lumen Technologies Inc - Communication Services - USA 🇺🇸

This thing needs to be bought by me.

PLYA - Playa Hotels & Resorts N.V - Consumer Cyclical - Netherlands 🇳🇱

Resorts are breaking out - who cares if it’s across the pond. Expansion season is upon us.

CRK - Comstock Resources, Inc - Energy - USA 🇺🇸

Great breakout in an energy stock in the USA.

AVPT - AvePoint Inc - Technology - USA 🇺🇸

This is far too over bought to buy right now.

BTSG - BrightSpring Health Services Inc - Healthcare - USA 🇺🇸

Love stocks with no overhead supply.

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New Highs $20+:

  1. NVDA - NVIDIA Corporation - Technology - United States - 🇺🇸

  2. TSLA - Tesla, Inc. - Automotive - United States - 🇺🇸

  3. V - Visa Inc. - Financial Services - United States - 🇺🇸

  4. ORCL - Oracle Corporation - Technology - United States - 🇺🇸

  5. MA - Mastercard Incorporated - Financial Services - United States - 🇺🇸

  6. COST - Costco Wholesale Corporation - Retail - United States - 🇺🇸

  7. NFLX - Netflix, Inc. - Entertainment - United States - 🇺🇸

  8. CRM - Salesforce, Inc. - Technology - United States - 🇺🇸

  9. TMUS - T-Mobile US, Inc. - Telecommunications - United States - 🇺🇸

  10. SYK - Stryker Corporation - Healthcare - United States - 🇺🇸

  11. AXON - Axon Enterprise, Inc. - Technology - United States - 🇺🇸

  12. GRMN - Garmin Ltd. - Technology - Switzerland - 🇨🇭

  13. HOOD - Robinhood Markets, Inc. - Financial Services - United States - 🇺🇸

NVDA - NVIDIA Corporation - Technology - United States - 🇺🇸

NVDA needs to hold and keep in the $140s now.

TSLA - Tesla, Inc. - Automotive - United States - 🇺🇸

Super impressive move to be up 50%

V - Visa Inc. - Financial Services - United States - 🇺🇸

There is strength behind this move in VISA - Credit expansion is always good for markets.

ORCL - Oracle Corporation - Technology - United States - 🇺🇸

Oracle is beyond out of control with BULLISHNESS.

MA - Mastercard Incorporated - Financial Services - United States - 🇺🇸

This is at the top of the range. Let it play out a couple days - hopefully we get a catalyst to bring in some market selling.

COST - Costco Wholesale Corporation - Retail - United States - 🇺🇸

Massive breakout in Costco - I’ll be patient but an example of the RISK ON environment I see ahead.

NFLX - Netflix, Inc. - Entertainment - United States - 🇺🇸

Price bounced off the top of the range but it’s still signalling a higher-high.

CRM - Salesforce, Inc. - Technology - United States - 🇺🇸

This thing has strength. See if you can buy on a pullback.

TMUS - T-Mobile US, Inc. - Telecommunications - United States - 🇺🇸

What a beauty of a trend. The consistency of the trend. It’s been double digit grow on the rolling 60 D for over a month! Huge ramp.

SYK - Stryker Corporation - Healthcare - United States - 🇺🇸

Remarkable to see a sideways chop resolve it self higher - I’ll be patient for more but own some.

AXON - Axon Enterprise, Inc. - Technology - United States - 🇺🇸

This is to showcase how crazy the market is going to become.

GRMN - Garmin Ltd. - Technology - Switzerland - 🇨🇭

It’s so impressive Garmin exists and is showing a breakout.

HOOD - Robinhood Markets, Inc. - Financial Services - United States - 🇺🇸

A strong trend and very likely to be a continuation. It’s a good look from

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