【米国株】2024-05-13週の振り返りと今週の戦略（監視銘柄）

Last week in the U.S. markets, long-term interest rates fell and stock indices rose for the fourth consecutive week, with the NASDAQ and S&P 500 reaching new highs. In addition to the stock indices, futures on metal materials such as gold, silver, and copper have risen particularly strongly.

This week, we intend to trade aggressively, focusing on stocks that are making new highs accompanied by an increase in volume due to favorable earnings announcements and other factors.

This week, NVDA is scheduled to announce its earnings on May 22. We will pay attention to the price movements of NVDA and semiconductor-related stocks after the earnings announcement.

Now, let's review last week's market by checking the chart.

Table of Contents

Last Week in Review
Strategy of the Week

Last Week in Review

Market environment

The yield on the 10-year US Treasury note was down -1.73%. We are in a short-term downtrend, but the decline may be halted for now, as it has retraced slightly and is now in a lower whisker in the second half of last week.

The VIX has fallen -4.62% to below 12, its fourth consecutive weekly decline.

NASDAQ Analysis

Here is the monthly chart of the NASDAQ. The highest price has been +6.67% for the month of May.

Here is the weekly chart of the NASDAQ. It was up +2.23% last week, its fourth straight week of gains.

The Nasdaq high-low issue count remains in positive territory. The upward momentum appears to be weakening a bit.

Dow Analysis

Here is the monthly chart of the Dow, which has almost recovered the April decline and is up +5.81% in May.

Here is the weekly chart of the Dow. Last week it was up +1.27%, its fourth straight week of gains.

Analysis of the S&P 500

This is the monthly chart of the S&P 500. Like the Nasdaq, it has reached new highs, with a May gain of +5.57%.

Here is the weekly chart of the S&P 500. It was up +1.68% last week, its fourth straight week of gains.

Russell 2000 Analysis

Here is the monthly chart of the Russell 2000, showing a May gain of +6.30%; the April decline has yet to be recovered.

Here is the weekly chart of the Russell 2000. last week was up +1.91%. Like the other indices, it has risen for four consecutive weeks.

Commodity Futures Analysis

Crude oil was up +1.70%, pausing a decline that had been underway since April, and finding support near 77 for the next two weeks.

Natural gas was up a big +16.61%, its fourth straight week of gains, and after peaking in 2022 and then continuing to decline, it appears to be on its way up in the middle of forming an inverse head-and-shoulders pattern.

Gold is up +1.79% and closing in on its all-time high. It continues its strong uptrend.

Copper reached a new high with a very strong gain of +8.31%. This is the first time since the end of February 2022 that copper has risen over 8% in one week.

Sector Analysis

Nearly all sectors have rallied in the past week, with particularly strong gains in information technology, telecommunication services, and real estate. Looking at performance over the past month, utilities are prominent, followed by real estate and information technology.

A review of performance by industry shows a generally strong trend in metal materials, including silver, precious metals, and aluminum. Falling are building materials, recreational vehicles, and broadcasting.

個別銘柄の分析

Last week, semiconductors (AMD, QCOM, INTC), software (ORCL, PANW), computer hardware (DELL, SMCI), industrial metals (BHP, RIO), copper (FCX, SCCO), China net retail (BABA, PDD, JD) and discount stores (WMT) rose strongly.

Industrial stocks (FERG, FIX) and building materials (MLM, VMC) have been weak.

Strategy of the Week

Stock indices have risen for four consecutive weeks since the end of April, and many growth stocks have begun to rebound and rise from their April adjustment declines, with many stocks reaching new highs. The market environment has turned favorable for swing trades, and we would like to actively enter stocks that make new highs.

This week, NVDA will announce earnings results on 5/22, which will be of interest to us. We will trade on the reaction of semiconductor-related stocks after the earnings announcement.