Daily Summary
AI Initiatives in China and South Korea
Although domestic companies currently lead the AI race, China and South Korea have also shown strong efforts both on the corporate and state level.
Potential Ideas from the Dow 30
As September nears a close, some U.S. Equity indices are having their best September performance in some time. We discuss how to approach a few groups of mega cap names.
Weekly Video
Weekly Rundown Video – Sep 24, 2025
Weekly rundown with NDW analyst team covering all major asset classes.
Weekly rundown with NDW analyst team covering all major asset classes.
Beginners Series Webinar: Join us on Monday, September 29th at 2 PM (ET) for our NDW Beginners Series Webinar. The week's topic is: Dynamic Asset Level Investing (DALI) and DALI Strategies. Register Here
Curious about how to navigate all-time highs as we close out 2025? Join our team on Thursday, October 2nd at 1PM EST to discuss the technical and macroeconomic "Weight of the Evidence" heading into Q4.
- To register, click HERE
In a feature published on Tuesday of this week, we discussed the rapid developments of artificial intelligence (AI) in the United States and how corporate initiatives in AI investment have significantly boosted equity returns. While domestic equities remain the strongest performing asset class, it is important not to overlook the global ripple effects of AI-driven growth. Markets outside of the U.S., particularly in Asia, have also seen notable gains as the countries ramp up their AI strategies. China and South Korea, in particular, have demonstrated strong performance in AI-related areas in 2025, with both state-led and corporate initiatives driving billions of dollars into AI development.
To better understand the scale and diversity of these AI initiatives, the chart below highlights some of the most impactful programs and investments launched by China and South Korea in 2025. These range from state-backed venture funds to major corporate pledges from some of the largest companies. The initiatives span multiple sectors such as semiconductors, generative AI and robotics, and autonomous driving. These initiatives spanning multiple industries could benefit investors looking to get a diversified exposure in these markets.
The iShares MSCI South Korea ETF (EWY) completed a triple top break earlier this month at $75 to mark its second consecutive buy signal. EWY is a diversified fund, but has a large weight in Tech/AI related companies like Samsung (SMSN-LN), as evidenced by its holdings. The fund has shown tremendous improvement this year as it is up over 56% year-to-date. EWY maintains a fund score of 5.89 after reversing back to a buy signal against the market earlier this week and maintains a positive score direction of 4.71. Additionally, the fund offers a yield of 1.79. The fund sits in overbought territory so wait for a pullback/price normalization before considering. Previous resistance can act as support, so initial support may be seen at $74 with additional support at $71.
The KraneShares CSI China Internet ETF (KWEB) completed a double top break earlier this month at $39.50 to mark its fourth consecutive buy signal. The fund focuses on the top Chinese internet companies, holding a large weight in companies like Tencent Holdings (TCEHY), Alibaba (BABA), & PDD (PDD). KWEB has a near perfect fund score of 5.96 and a strong score direction of 3.16. Additionally, the fund offers an attractive yield of over 2.7 %. The weekly OBOS indicates that the stock is in overbought territory, so wait for the 10-week trading band to normalize before considering. Initial support is at $37.50, with additional support at $34.50.
As September nears a close, some U.S. Equity indices are having their best September performance in some time with the Russell 2000 (RUT) having its best September performance since 2017 and the S&P 500 (SPX) it’s best since 2013. While the Dow Jones Industrial Average (.DJIA) hasn’t quite had the same historic performance as others, the index is up 88 basis points with notable action within underlying constituents worth reviewing. Stocks covered will include those recently rallying to highs and are either still extended or pulling back to more actionable territory. Additionally, two Dow stocks that are actionable currently on their point and figure charts are covered.
Extended
Apple (AAPL) – After completing a fourth consecutive buy signal during last week’s trading Apple rallied to its highest level since January at $256 on 9/22. Initially helped by increased ratings/price targets from some firms and continuing to trade near rally highs the remainder of the week on news of an investment in Intel (INTC). Alongside improvement on the trend chart, the market RS chart reversed back into a column of Xs against the S&P 500 Equal Weight Index (SPXEWI), increasing the stock to a 4 for 5’er. Apple is now back in the top half of the Computers sector matrix and monthly momentum has flipped back positive for the first time in eight months. This week’s action placed AAPL above the top of the 10-week trading band with a Weekly OBOS Reading north of 100% for the first time since July 2024. Those seeking exposure to Apple are best served looking for a pullback to the $230 to $240 range, or potential consolidation in the $240 range along with a normalization of the 10-week trading band. Note the stock’s all-time high from December 2024 resides at $260. Initial support can be found at $228, while additional support can be found at $204 and $198, the bullish support line.
International Business Machine (IBM) – Yesterday’s action (9/25) brought IBM above $284 on news of IBM and HSBC Holdings (HSBC) testing quantum computers within bond trading. This continues the current column of Xs on the default point and figure chart that began earlier this month. While still maintaining a sell signal given back in August, IBM has been the best performing Dow stock in the month of September (through 9/25), up 15.59%. IBM has held at least a 3 technical attribute rating since October 2023, and this week’s action places the stock in overbought territory, well above support in the $230 range. Following a potential reversal back into Os and possible support developed closer to current prices, those seeking exposure would be looking for a return to a buy signal as well before considering. Note the stock’s all-time high from June resides at $296. Beyond initial support at $236, additional can be found in the $220 range with the bullish support line residing at $220.
Pulling Back
American Express (AXP) – American Express rallied to a new all-time chart high at $348 during Tuesday’s (9/23) trading before pulling back during Thursday’s (9/25) session to $336. The stock has maintained a positive trend since November 2023 and a buy signal since late April this year, completing a third buy signal at the end of August at $332. AXP has been a 5 technical attribute stock since January 2024 and sustained at least a 3 TA rating since January 2022. The stock has also ranked within the top third of the Finance sector matrix for the past 18 months, speaking to the stock’s superior strength relative to peers. AXP is actionable here on the pullback as well as further back toward the middle of the 10-week trading band near $312. Initial support lies in the $284 to $292 range, while the bullish support line resides at $240.
Goldman Sachs (GS) – Goldman Sachs rallied to a new all-time chart high at $816 during Tuesday’s trading (9/23) before pulling back Thursday (9/25) to $784. The stock has maintained a buy signal since late April this year, completing a sixth buy signal earlier this month. Following a positive trend reversal, GS has been a 5 technical attribute stock since May of this year and sustained at least a 3 TA rating since October 2022. The stock has shown superior relative strength against its peers, currently ranking 2nd (out of 62) within the Wall Street sector and having ranked within the top third since November 2023. GS is actionable here on the pullback as well as further back toward the middle of the 10-week trading band at $736. Initial support lies at $728, while additional can be found at $712 and $696 on the default chart.
Actionable
Traveler’s Insurance (TRV) – TRV rallied to a new all-time chart high at $280 earlier this month, which was preceded by a return to a buy signal with a double top break at $272 in August. The stock has been a 3 for 5’er since October 2024 and maintained a positive trend on its point and figure chart since October 2023. The stock currently ranks within the top half of the Insurance sector matrix while being accompanied by a yield of roughly 1.6%. Okay to consider here or on a pullback to $268, the middle of the 10-week trading band. Initial support can be found in the $248 to $256 range, while additional may be found in the $224 to $232 range.
Walmart (WMT) - WMT rallied to a new all-time high at $106 early last week, giving a second buy signal and completing a bullish catapult. The stock is a 4 for 5’er and maintained at least a 3 TA rating since June 2024. Weekly momentum has just flipped back to positive and the stock is okay to consider here or on a pullback to $99, the middle of the 10-week trading band. Initial support can be found in the $94 to $96 range, while additional support may be found in the $91 to $92 range.
Featured Charts:
Portfolio View - Major Market ETFs
Symbol | Name | Price | Yield | PnF Trend | RS Signal | RS Col. | Fund Score | 200 Day MA | Weekly Mom |
---|---|---|---|---|---|---|---|---|---|
DIA | SPDR Dow Jones Industrial Average ETF Trust | 459.43 | 1.46 | Positive | Sell | X | 3.94 | 432.59 | - 1W |
EEM | iShares MSCI Emerging Markets ETF | 52.81 | 2.37 | Positive | Buy | X | 5.57 | 45.90 | + 4W |
EFA | iShares MSCI EAFE ETF | 91.92 | 2.82 | Positive | Sell | X | 3.97 | 84.91 | - 2W |
IJH | iShares S&P MidCap 400 Index Fund | 64.68 | 1.32 | Positive | Buy | O | 4.06 | 61.86 | - 1W |
IJR | iShares S&P SmallCap 600 Index Fund | 117.31 | 2.00 | Positive | Sell | O | 2.99 | 111.07 | - 1W |
QQQ | Invesco QQQ Trust | 593.53 | 0.49 | Positive | Buy | X | 5.71 | 525.42 | - 9W |
RSP | Invesco S&P 500 Equal Weight ETF | 186.72 | 1.52 | Positive | Sell | O | 2.77 | 178.88 | - 1W |
SPY | SPDR S&P 500 ETF Trust | 658.05 | 1.11 | Positive | Buy | X | 5.24 | 599.57 | - 9W |
XLG | Invesco S&P 500 Top 50 ETF | 56.95 | 0.67 | Positive | Buy | X | 5.70 | 50.51 | - 1W |
Average Level
38.73
< - -100 | -100 - -80 | -80 - -60 | -60 - -40 | -40 - -20 | -20 - 0 | 0 - 20 | 20 - 40 | 40 - 60 | 60 - 80 | 80 - 100 | 100 - > |
---|---|---|---|---|---|---|---|---|---|---|---|
< - -100 | -100 - -80 | -80 - -60 | -60 - -40 | -40 - -20 | -20 - 0 | 0 - 20 | 20 - 40 | 40 - 60 | 60 - 80 | 80 - 100 | 100 - > |
AGG | iShares US Core Bond ETF |
USO | United States Oil Fund |
DIA | SPDR Dow Jones Industrial Average ETF |
DVY | iShares Dow Jones Select Dividend Index ETF |
DX/Y | NYCE U.S.Dollar Index Spot |
EFA | iShares MSCI EAFE ETF |
FXE | Invesco CurrencyShares Euro Trust |
GLD | SPDR Gold Trust |
GSG | iShares S&P GSCI Commodity-Indexed Trust |
HYG | iShares iBoxx $ High Yield Corporate Bond ETF |
ICF | iShares Cohen & Steers Realty ETF |
IEF | iShares Barclays 7-10 Yr. Tres. Bond ETF |
LQD | iShares iBoxx $ Investment Grade Corp. Bond ETF |
IJH | iShares S&P 400 MidCap Index Fund |
ONEQ | Fidelity Nasdaq Composite Index Track |
QQQ | Invesco QQQ Trust |
RSP | Invesco S&P 500 Equal Weight ETF |
IWM | iShares Russell 2000 Index ETF |
SHY | iShares Barclays 1-3 Year Tres. Bond ETF |
IJR | iShares S&P 600 SmallCap Index Fund |
SPY | SPDR S&P 500 Index ETF Trust |
TLT | iShares Barclays 20+ Year Treasury Bond ETF |
GCC | WisdomTree Continuous Commodity Index Fund |
VOOG | Vanguard S&P 500 Growth ETF |
VOOV | Vanguard S&P 500 Value ETF |
EEM | iShares MSCI Emerging Markets ETF |
XLG | Invesco S&P 500 Top 50 ETF |
Long Ideas
Symbol | Company | Sector | Current Price | Action Price | Target | Stop | Notes |
---|---|---|---|---|---|---|---|
TSCO | Tractor Supply Company | Retailing | $56.42 | upper 50s | 66 | 50 | 3 for 5'er, LT pos mkt RS, buy on pullback |
HLT | Hilton Worldwide Holdings Inc | Leisure | $261.28 | 260s - low 280s | 364 | 216 | 5 TA rating, LT pos trend, consec buy signals, buy on pullback, Earn. 10/22 |
AMZN | Amazon.com Inc. | Retailing | $218.15 | 200s - low 210s | 240 | 178 | 3 for 5'er, LT pos peer & mkt RS, buy on pullback |
PEGA | Pegasystems Inc | Software | $58.29 | low-to-mid 50s | 79 | 47 | 5 for 5'er, top 20% of favored SOFT sector matrix, buy on pullback |
FOXA | Fox Corporation Class A | Media | $60.23 | hi 50s - lo 60s | 70 | 52 | 5 TA rating, LT pos trend, LT peer RS buy, shakeout completion, pos wkly mom |
ACT | Enact Holdings Inc | Finance | $38.69 | mid-to-hi 30s | 48 | 31 | 5 for 5'er, top half of favored FINA sector matrix, spread quad top, 2.2% yield |
ETR | Entergy Corporation | Utilities/Electricity | $90.33 | mid-to-hi 80s | 101 | 75 | 5 for 5'er, top 25% of EUTI sector matrix, triple top, buy on pullback, 2.7% yield |
GIL | Gildan Activewear | Textiles/Apparel | $56.69 | low-hi $50s | 80 | 43 | 5 TA rating, LT RS buy, LT pos trend, pos wkly and monthly mom, buy on pullback |
EMR | Emerson Electric Co. | Machinery and Tools | $130.11 | hi 120s - lo 140s | 175 | 114 | 5 TA rating, LT pos mkt RS, consec buy signals |
EA | Electronic Arts Inc. | Leisure | $168.32 | 160s - low 170s | 218 | 140 | 3 for 5'er, top half of LEIS sector matrix, one box from RS buy, buy on pullback |
GLNG | Golar LNG Ltd | Oil Service | $40.57 | lo-mid 40s | 73 | 34 | 4 TA rating, consec buy signals, LT mkt RS, top 50% of OILS sector |
HLI | Houlihan Lokey Inc | Banks | $205.27 | 190s - low 200s | 222 | 170 | 5 TA rating, top 20% of BANK sector matrix, LT mkt RS buy, price consolidation |
ATO | Atmos Energy Corp | Gas Utilities | $166.46 | mid 150s - lo 170s | 212 | 142 | 4 TA rating, near top of GUTI sector matrix, LT pos trend, consec buy signals |
BN | Brookfield Corp. | Wall Street | $68.46 | mid-to-hi 60s | 80 | 56 | 5 for 5'er, top 20% of WALL sector matrix, LT pos peer RS, shakeout to triple top |
CEG | Constellation Energy Corporation | Utilities/Electricity | $326.33 | 320s - 330s | 396 | 280 | 3 for 5'er, top 25% of favored EUTI sector matrix, one box from mkt RS buy, bearish signal reversal |
ORA | Ormat Technologies, Inc. | Utilities/Electricity | $93.71 | hi 80s - mid 90s | 120 | 73 | 4 TA rating, top 33% of EUTI sector matrix, consec. buy signals, buy-on-pullback |
MTG | MGIC Investment Corporation | Insurance | $28.39 | mid-hi 20s | 42 | 21.50 | 5 TA rating, LT RS buy, LT pos trend, 2% yield |
PWR | Quanta Services, Inc. | Building | $400.41 | hi 370s - 390s | 476 | 340 | 5 for 5'er, top 33% of favored BUIL sector matrix, LT pos peer & mkt RS, triple top, good R-R |
RKT | Rocket Companies Inc Class A | Finance | $19.05 | 18 - 20 | 32.50 | 15.50 | 5 for 5'er, near top of favored FINA sector matrix, triple top, R-R>2.0 |
FN | Fabrinet | Electronics | $360.95 | mid 360s - hi 390s | 532 | 312 | 5 TA rating, consec buy signals, LT peer RS buy, top end of ELEC sector matrix, buy-on-pullback |
ETD | Ethan Allen Interiors Inc | Household Goods | $28.64 | 27 - 30 | 44 | 24 | 4 for 5'er, top 20% of HOUS sector matrix, LT pos mkt & peer RS, R-R~3.0, 5.4% yield |
NI | Nisource, Inc. | Gas Utilities | $41.82 | 39-mid 40s | 78 | 35 | 5 TA rating, LT pos trend, top 25% of GUTI sector matrix, consec buy signals, yield > 2.5%, R-R > 5 |
COCO | Vita Coco Company, Inc. | Food Beverages/Soap | $39.01 | mid-to-hi 30s | 59 | 31 | 5 for 5'er, top 20% of favored FOOD sector matrix, buy on pullback, R-R~2.0 |
Short Ideas
Symbol | Company | Sector | Current Price | Action Price | Target | Stop | Notes |
---|
Removed Ideas
Symbol | Company | Sector | Current Price | Action Price | Target | Stop | Notes |
---|---|---|---|---|---|---|---|
ELF | Elf Beauty Inc | Household Goods | $130.70 | mid 120s - hi 130s | 170 | 112 | ELF has fallen to a sell signal. OK to hold here. Raise stop to $118. |
Follow-Up Comments
Comment | |||||||
---|---|---|---|---|---|---|---|
|
NDW Spotlight Stock
COCO Vita Coco Company, Inc. R ($39.76) - Food Beverages/Soap - COCO is a 5 for 5'er that ranks in the top quintile of the favored food beverages/soap sector matrix. Earlier this month, COCO reached a new all-time high, taking out resistance that had been in place since February. The stock has now pulled back into its prior trading range, offering an entry point for long exposure. Positions may be added in the mid-to-upper $30s and we will set our initial stop at $31, which would take out multiple levels of support on COCO's chart and violated its trend line. We will use the bullish price objective, $59, as our target price, giving us a reward-to-risk ratio of about 2.0.
24 | 25 | ||||||||||||||||||||||||||||
42.00 | X | 42.00 | |||||||||||||||||||||||||||
41.00 | X | O | 41.00 | ||||||||||||||||||||||||||
40.00 | X | X | O | 40.00 | |||||||||||||||||||||||||
39.00 | 2 | O | X | X | O | 39.00 | |||||||||||||||||||||||
38.00 | X | O | X | O | X | O | 38.00 | ||||||||||||||||||||||
37.00 | X | X | O | X | 7 | O | X | 9 | 37.00 | ||||||||||||||||||||
36.00 | X | O | X | O | X | X | O | X | O | X | O | X | Mid | 36.00 | |||||||||||||||
35.00 | X | O | X | O | 3 | O | 5 | X | O | X | 8 | X | O | X | 35.00 | ||||||||||||||
34.00 | X | 1 | X | O | X | O | X | O | X | 6 | X | O | X | O | 34.00 | ||||||||||||||
33.00 | X | X | O | O | X | O | X | O | X | O | O | X | 33.00 | ||||||||||||||||
32.00 | X | O | B | O | O | X | O | X | O | • | 32.00 | ||||||||||||||||||
31.00 | X | O | X | X | X | A | O | X | O | • | 31.00 | ||||||||||||||||||
30.00 | 9 | O | X | O | 6 | O | 7 | O | X | O | X | • | 30.00 | ||||||||||||||||
29.00 | X | O | X | O | X | O | X | O | X | 4 | X | • | 29.00 | ||||||||||||||||
28.00 | X | O | B | O | X | O | X | O | 9 | O | X | • | Bot | 28.00 | |||||||||||||||
27.00 | X | O | X | C | X | X | O | O | 8 | O | X | • | 27.00 | ||||||||||||||||
26.00 | X | O | X | O | X | O | 5 | O | X | O | • | 26.00 | |||||||||||||||||
25.00 | X | O | X | 1 | X | O | X | O | X | • | 25.00 | ||||||||||||||||||
24.00 | A | O | X | 3 | X | O | • | 24.00 | |||||||||||||||||||||
23.00 | O | X | 4 | • | 23.00 | ||||||||||||||||||||||||
22.00 | O | X | • | 22.00 | |||||||||||||||||||||||||
21.00 | O | X | • | 21.00 | |||||||||||||||||||||||||
20.00 | O | X | • | 20.00 | |||||||||||||||||||||||||
19.50 | 2 | • | 19.50 | ||||||||||||||||||||||||||
24 | 25 |
COST Costco Wholesale Corporation ($917.11) - Retailing - COST broke a double bottom at $912 to complete a bearish catapult. The stock maintains a 3 technical attribute rating, but now ranks within the bottom quartile of the Retailing sector matrix. From here, initial support lies at $880, while additional may be found at $800. |
OKE ONEOK, Inc. ($73.65) - Oil Service - OKE gave an initial buy signal Friday when it broke a double top at $75. The technical outlook for the stock remains negative as it is a 2 for 5'er that ranks near the bottom of the oil service sector matrix. From here, the next level of overhead resistance sits at $76; meanwhile, support can now be found at $71. |
U Unity Software, Inc. ($42.72) - Software - U moved to a sell signal Friday, setting up a potential shakeout pattern. The buy point on this pattern would be initiated with a reversal back up into a column of Xs to $45. The pattern would be subsequently completed with a potential triple top at $47, while it would be negated with a violation of further support at $38. The stock has a 5 for 5 TA rating and sits near the top of the favored software sector RS matrix. Further overhead resistance may be seen at $50 from 2023. |
ULTA Ulta Beauty, Inc. ($548.47) - Retailing - ULTA broke a triple top at $544 for a seventh buy signal since April this year and to bring the stock to its highest level since early 2024. The stock is a 4 for 5'er that ranks within the top third of the Retailing sector matrix. Okay to consider here on the breakout. Initial support lies at $512, while additional may be found at $488 and $472 on the default chart. |
XOM Exxon Mobil Corporation ($117.32) - Oil - XOM returned to a buy signal Friday when it broke a double top at $116 and continued higher to $118, where it now sits against resistance. Friday's move adds to a marginally positive technical picture as XOM is a 3 for 5'er and ranks in the top half of the oil sector matrix. From here, the first level of support on XOM's chart sits at $106. |
Daily Option Ideas for September 26, 2025
New Recommendations
Name | Option Symbol | Action | Stop Loss |
---|---|---|---|
Steel Dynamics Inc. - $139.81 | O: 26A140.00D16 | Buy the January 140.00 calls at 10.60 | 126.00 |
Follow Ups
Name | Option | Action |
---|---|---|
Entergy Corporation ( ETR) | Dec. 87.50 Calls | Initiate an option stop loss of 4.60 (CP: 6.60) |
Citigroup, Inc. ( C) | Dec. 97.50 Calls | Raise the option stop loss to 7.65 (CP: 9.65) |
State Street Corporation ( STT) | Jan. 110.00 Calls | Raise the option stop loss to 8.20 (CP: 10.20) |
RTX Corp. ( RTX) | Jan. 160.00 Calls | Raise the option stop loss to 9.15 (CP: 11.15) |
J.P. Morgan Chase & Co. ( JPM) | Dec. 315.00 Calls | Initiate an option stop loss of 14.30 (CP: 16.30) |
Microsoft Corporation ( MSFT) | Dec. 510.00 Calls | Initiate an option stop loss of 24.40 (CP: 26.40) |
New Recommendations
Name | Option Symbol | Action | Stop Loss |
---|---|---|---|
Biogen Inc. - $136.80 | O: 25X135.00D19 | Buy the December 135.00 puts at 9.00 | 152.00 |
Follow Up
Name | Option | Action |
---|---|---|
Transunion ( TRU) | Dec. 90.00 Puts | Stopped at 8.40 (CP: 8.00) |
eToro Group Ltd. Class A ( ETOR) | Jan. 45.00 Puts | Initiate an option stop loss of 5.60 (CP: 7.60) |
New Recommendations
Name | Option Sym. | Call to Sell | Call Price | Investment for 500 Shares | Annual Called Rtn. | Annual Static Rtn. | Downside Protection |
---|---|---|---|---|---|---|---|
Hewlett Packard Enterprise Company $ 24.21 | O: 26A25.00D16 | Jan. 25.00 | 1.68 | $ 11,283.35 | 31.68% | 20.55% | 5.93% |
Still Recommended
Name | Action |
---|---|
MARA Holdings Inc. ( MARA) - 16.07 | Sell the December 18.00 Calls. |
SoFi Technologies Inc. ( SOFI) - 28.12 | Sell the November 27.00 Calls. |
Arista Networks Inc ( ANET) - 143.06 | Sell the December 145.00 Calls. |
Carnival Corporation ( CCL) - 30.48 | Sell the December 32.00 Calls. |
JFrog Ltd. ( FROG) - 49.55 | Sell the December 50.00 Calls. |
American Eagle Outfitters, Inc. ( AEO) - 17.80 | Sell the November 18.00 Calls. |
Palantir Technologies Inc. Class A ( PLTR) - 179.12 | Sell the January 185.00 Calls. |
The Following Covered Write are no longer recommended
Name | Covered Write |
---|---|
Invesco PLC ( IVZ - 22.36 ) | January 23.00 covered write. |