John Carter Markets Analysis: QQQ vs IWM, SPY, GLD, KO, MMM, CHRW

In Wednesday morning’s video review, John Carter runs through an overview of equity indexes to give some perspective on where we stand. He highlights the divergence between QQQ and IWM, with the former lined up well in a bullish formation, and the latter having rolled over and producing a 20/50 SMA crossover. The TTM Squeeze indicator on the QQQ is consistent with an overbought signal, and Carter reviewed the SPY from March to April in which the indicator flashed a similar warning. At that point the market proceeded to erase almost two months of gains in two weeks. As they say, the market takes the stairs up and the elevator down. Given these diverging signals, Carter wants to focus on stocks that have been strong regardless of the overall market. He names TSLA, GLD, KO, MMM, and CHRW as actionable ideas.