 Hello Traders at CMC Markets. Welcome to another update by ROG Research for Monday the 5th of June. I am recording this on Friday 2nd of June. My name is Trevor Neal of ROG Research PV and I am presenting to you from London. We're going to start as usual with a look at global stock indices, major stock indices, and there is an outstanding story here which I'm going to go into detail. We're going to look in more detail at the technology stocks and the lead there. We picked up on NVIDIA as many of you will know back in January as a way of participating in this turnaround in the tech market, which had tech switch had fallen last year and the turnaround picked up early in ROG. That's an old story now NVIDIA has really shot to the sky, brilliant to belong of it. But what else can we do now? There's meta. That's true. But is there something in the group which has got real potential at this time? So I'm going to show you what I think you might look at to participate in this current narrow-based strength in some of the NASDAQ securities. We start as usual by looking at major stock indices, world stock indices versus the MSCI world. So what stock markets doing well versus all stock markets? It's a couple of quite interesting things here to see. First of all, we can see furthest to right by a long shot is the NASDAQ on this weekly sample. We've got the Nikai looking good in a good direction, the S&P short tail not really moving and close to the middle. Over here, the Dow Jones Industrial Average is only just moving from the lagging quadrant into the improving quadrant. Not really doing that very enthusiastically with a small tail here, so not a lot of powerful momentum in it. But it's surprising that we've got this narrowly based index so far behind the NASDAQ. Also surprising is worst index of all is the Russell 2000, the very broad based US index. It's because all the pressure on the upside is from a very narrow group of stocks and actually only a couple of that small group of stocks. So we're going to go into detail about that and in particular we're hunting for new opportunities in that small group of stocks to capture some of the momentum in this move and not buy into securities which are already really strong and have gone up a lot. Before I leave this chart, just want to notice here we've got this crowding of the European stock indexes here, DAX, the TAC and the stocks index together having slipped around from the leading quadrant into the weakening quadrant and poor old FTSE here in the lagging quadrant and also poor old HANXENG. It was the last year it really lagged behind, had a good bounce which we caught very well in RRG but at we also warned people was over some months ago and now it's heading awfully badly down in a south-westerly direction and maybe it will overtake the Russell 2000 which is on its way up and curving around in here. But these features are the NASDAQ and we're going to have all the US indices most outstanding performance from it. Here is the NASDAQ and this is a daily chart of the NASDAQ and we of course know how strong this is and how strong it has been since January when it broke the January-February when it broke the downtrend line and really triggered the big reversal of this really more or less a double or triple bottom here. The breakout of the 12,800 was a trigger, break, pullback and then on then we broke the next milestone it's a break of 13,600 now the next significant resistance is 15,200. We've soared in recent days and weeks and it's gone rather parabolic and it's having a little bit of a pullback at the moment. The RRG ratio and momentum lines are both above 100s and both pointing upwards that's a good sign. The MACD is pointing upwards and the gap is widening and the RSI is holding up strong. A couple of tops in there warn us that this little pullback might extend a little bit further but so far it's extended very little indeed. The pullback if you count it from here to here is not even 38.2% yet so it's very mild. The mildness of the pullback indicates the market itself has strength when the bears have control they're not achieving very much. So the outlook remains good for this market although it's rather parabolic in shape. We know that the NASDAQ strength is dominated by the sectors of communications and also technology but we can break this down even further into the FANG stocks. Now there is an index in the states, the symbol is NY FANG, it's the FANG plus if you like, index. It's got 10 stocks in it, it's equally weighted so they've each got 10% each of the weight of the index so it's not cap weighted and this is here charted on a weekly ROG with the S&P as the cross here. So not surprisingly everything is to the right of it. Most to the right is Metta and NVIDIA the ones we picked up in January but they're pointing downwards here and moving from the leading quadrant into the weakening quadrant. We just saw that in the NASDAQ a little bit of a pullback, the ones that have been leading the run up are having a little bit of a slowing up, it didn't be a fall but a slowing up but we've got some other markets which are maybe showing some promise which I want to, securities which are showing some promise which I want to investigate a little more deeply. Briefly looking at NVIDIA, I don't know if you did follow us in January when it broke the downtrend line and it rotated around and at the time the technology stocks were dogs we picked this one up that and Metta has two good ways to participate in a bounce we saw I think we called it at the time but then the bounce has gained considerable momentum and really become the leader in the powerhouse of the move. The next significant level was the break of 290, then we were approaching the high in December 2021 then we got those phenomenal results, we have the massive gap as we break to a new high and then it's gone up to 420 and now it's come back about 10% from there. The momentum and ratio and the IG are both extremely good the MACD, the weekly MACD is, sorry the daily MACD is absolutely stellar here despite the pullback and the RSI that are easing back here from a higher high but still very strong overall and looking good. Now this is a hard one to buy at this stage, it's great if you did buy in January or any of the times in between but we've got this gap to contend with, it might want to fill the gap we may one day see 350 again and really to correct the excess of the market but for the moment if you've got it that's fantastic and if you haven't got it I would look elsewhere, so let's look elsewhere. Now one of the charts that looked promising on the RRG was Google Alphabet but the absolute chart of it doesn't look quite so good. Now the RRG, we've got both the ratio and the momentum above the 100 but they have just turned down, the MACD is positive but it's just turning potentially crossing down, close to crossing down, it's a daily chart incidentally and the RSI, it's on its way down through 65 from above which if you like is a sort of signal that correction is underway. We can see that it is supported around current level but it has been rebuffed by resistance at 126 here. This doesn't look so good, I would rather wait and see what happens if this does pull back into this area in here whether it picks up support again but it has been rebuffed by this resistance level from these lows in here so that's not the one for us. Another one which began to look good was Snowflake, we had this rising lows pattern in here good uptrend, downtrend therefore with lower highs in place therefore a triangle and the breakout was to the upside of it powered ahead from that 155 breakout level, 157 breakout level went up to 183 but then sunk hard back to the downtrend line and now it's bounced from that. This may be taking off again a bit early to say but don't like the turning down in the RRG lines see the MACD is actually negative in it and the RSI yes it's come up from 35 from below, it gave a buy signal yes a good buy signal but really there's a tricky one whether this is the right place to buy, it could be it's a trend line break, retest and holding and resuming the uptrend 183 would confirm that obviously but it's got a bit of a way to go we could probably find something better. Now the one that I like the most looks most promising to me is Amazon we've got rising lows in here, steepling line in here we've just broken resistance, this is a daily chart at around 114, modest break, retest exactly to the break point and bouncing up and now breaking the high looking like it's on its way and continuing it's a move up. The RRG lines both of them above 100 which we like, the MACD is also positive and the RSI is fairly good there is a small bearish divergence in here which may be causing this effect now maybe we'll come back to 118.40 or so here and pick up demand again but with this strong upward pattern this looks pretty good. So anything around here looks pretty good the bull move would be aborting the short term bull move would be aborting if we went through the 112 area here the trend resuming on its way if we get up through 122 then we've got a minor resistance there really is minor resistance from 136 but we've got major resistance up here let me just show you this so this series of lows in here it's above the low but it matches that high there that's I think that area of about 145 area the thick band really is where the major resistance comes in but it looks to me this one has the best looking chart currently that isn't suffering from the burden of resistance it has got a fairly free shot at going up hasn't yet gone parabolic or excessive has corrected itself well on the way up and this means that the protective area is relatively close and the potential for this is high so of the other fan plus stocks if you're not in this or want to add more then Nvidia, yes famously it is leading the pack Meta also leading the pack but I think of the other ones the best looking on the ROG and on the individual stock chart is Amazon watch for Tesla it's been performing poorly but it may be turning around that in the future I am sure I will leave it there for this week and thank you very much for watching we always appreciate it when you give your time to us we will be back again with you next week it may be me or it may be Julius next week at the same time in the same place so goodbye from Julius de Campanar and myself Trevor Neal of ROG Research BV and may the trend be with you goodbye