Small-cap stocks have been choppy for most of 2021. The Russell 2000 has been trading sideways for the past few months and looks ready to make new highs. Three small-cap tech stocks are on my radar that are also exposed to the Communication Services and Industrials sectors — and more in today’s stock market recap.
In the stock market recap, global stocks are mixed this morning as traders weigh interest rate uncertainty.
Large-cap tech stocks are showing strength but may start cooling off soon due to interest rate sensitivity.
The S&P 500 looks bullish again after trading above its 50-day moving average today. Pressure on the S&P 500 from sagging momentum levels has been relieved in the short term, but 88% of stocks are trading above their 200-day MA. This could mean more downside for the index, although stocks could stay around current levels for a month or more.
The existing home sales and the Federal Reserve Bank of Richmond manufacturing index reports are scheduled for today. The biggest news of the week is the first-quarter gross domestic product number coming Thursday. Meanwhile, Federal Reserve Chair Jerome Powell is sticking to his temporary inflation stance.
Veeco Instruments Inc. (Nasdaq: VECO) develops and manufactures film processing equipment. This equipment is used to make electronic devices such as LEDs, hard drives and wireless chips.
VECO is a Russell 2000 stock with a one-year return of 73.93%. This is a manufacturing and tech company that has experienced a pullback to its 50-day MA. These types of pullbacks are great high-probability, low-risk opportunities.
The other two stocks I’ve discovered are also small-cap tech names in the Communication Services sector with one-year returns of 40.27% and 207.30%. All three of these stocks are exposed to short-term tech strength while also riding the bounce back in Communication Services.
In today’s video, you’ll discover which report is dominating this week’s trading action… whether momentum levels are neutral or oversold… how the S&P 500 is most likely to react over the near term… which stocks traders should focus on today… and the top three small-cap stocks on my radar right now.
Recent volatility and inflation speculation has some investors acting like gamblers with their retirement funds. Chasing lost money… panic buying and selling… It’s sad.
Casinos can be fun, but leave the gambling mentality at the door when trading.
If traders can keep their heads on their shoulders and work a solid plan, history shows that these markets are exactly where they make good money.
There’s a strategy that trades stocks and ETFs that are linked. One of these will do better than the other on a consistent and measurable basis, and this strategy works in all market conditions!
Check back each morning for Roger’s Radar and the most important news and numbers in the WealthPress stock market recap.