Greetings fellow stock market investors and traders!

Here is today's update on the stock market. Upvote if you find the information helpful, and follow for frequent updates on cryptos and stocks.

S&P 500 1-Day Performance Map and Daily Candle Chart

1 Day Performance Map:

Daily Chart Technical Analysis:

Market Summary

The S&P 500 took a much needed breather today. I am expecting some sideways to slightly negative price movement over the next few trading sessions because the price has moved up so high so quickly recently. But I am still bullish on the stock market in the long term.

Stocks to Watch

1.

I like the recent selloff on this semiconductor stock. If you have seen any of my recent posts, you know I like to watch the semiconductor stocks since they are heavily tied to cryptos and they have consistently remained one of the best performing industries over the last few years. AVGO seems to be at a good buying price right now.

AVGO Weekly Chart

AVGO Daily Chart

AVGO Analyst Recommendations - Most are giving a "Buy" (light green) or "Strong Buy" (Dark Green) Rating.

https://finance.yahoo.com/quote/AVGO?ltr=1

2. Biotech Stocks

If you own the IBB ETF or any large biotech stocks, it may be time to start taking profits. Here is why:

IBB Weekly Chart

I expect some headwinds over the next couple weeks but I think IBB will rebound and continue higher in the long run. Especially if it finds support from the lower channel trendline. I also think demand for biotech products in general will rise as the baby boomer population ages.

Disclamer:

I am not a financial adviser nor is this professional financial advice. These are just my opinions and you should do your own due diligence before making any investments.