Once again, high-flying mega-cap names came to the rescue of the market last week led by Alphabet (GOOG).

Learning Your Alphabet & Long-Term Buy & Hold

-The Jackson 5

Alphabet/Google investors were singing all the way to the bank on Friday. It seems like so long ago, they made mistake after mistake in the Artificial Intelligence (AI) world, but it really hasn’t been. Only two weeks ago, the narrative was that AI would put the need for searches out to pasture.

Now, GOOG is valued at $2.0 trillion after one of the greatest sessions in the stock market's history.

Market Breadth

Great market breadth occurred on Friday, but new lows on the NASDAQ Composite continue to underscore the feast-or-famine environment for NASDAQ investors.

For the New York Stock Exchange (NYSE), there was major progress from the massive spike in new lows two weeks ago.

Momentum Coming into the Week

The S&P 500 closed below the 50-day moving average, a huge swing point.

We could trade in a narrow range until the jobs report on Friday, but there are very important earnings releases with the ability to move markets as well.

Today’s Session

It’s a mixed bag this morning.  Apple (AAPL) and Tesla (TSLA) are higher, but semis are taking a leg lower. 

Bond yields are relatively flat this morning, with the 10-year hovering around 4.64%.

The market is giving up so early morning gains, and the Nasdaq has ticked lower. 

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