The market continues to be resilient. I am bullish into the Presidential election in November for the following reasons: There is very little distribution, the Fed is on our side, the price action is incredibly strong in so many stocks, the leaders are acting well, and there is a persistent bearishness with overall sentiment. Of course, we will see pullbacks, corrections, and shakeouts along the way. In fact, I wouldn’t be surprised to see one over the next two weeks as there could be potential end of the quarter profit taking and portfolio re-balancing. That is why I encourage everyone to know their own timeframe and to make decisions based on their own investment objectives. Also, the pullbacks can come when short-term sentiment gets a little heated, in order to keep the bulls in check. They might come in a similar manner to what we saw on 5/12/20-5/13/20 and 6/11/20. In other words, very quick 6-10% pullbacks when the market gets extended.

If I am correct in that we will see a strong liquidity-driven rally over the next few months, I discuss many leading stocks in this video to focus on. Again, focus, focus, focus on the absolute best stocks out there. The general guide is to use the 21-day EMA for shorter term support and the 50-day for longer term support. I would suggest a stop if any of these stocks close below their 10-week moving average on their weekly charts. This is for longer-term holders. Again, know your timeframe. I would change my bullish stance if I see many distribution days occur, if the major averages break below their 10-weeks, and if the leaders start to break down. Of course, I will do my best to interpret and update the price action in these videos. Currently, I am approximately 50% invested for clients. As always, this is subject to change at any time.

Topics covered:
1) 0:00 Announcements – Quick comments on Investment Levels
2) 2:50 Market Commentary
3) 8:15 Index Review – Nasdaq Composite, S&P 500, Russell 2000
4) 11:50 Stock Review – Mega Cap Focus List: AMZN, MSFT, NFLX, ADBE
5) 15:20 Stock Review – Software Focus List: COUP, AYX, VEEV, OKTA, DDOG, CRWD, FSLY, TWLO, NOW
6) 21:20 Stock Review – Artificial Intelligence Focus List: SDGR, BTAI, ICAD, DT
7) 24:50 Stock Review – Biotech/Medical Products: SGEN, VRTX, DXCM, STAA, ADVM
8) 29:00 Stock Review – Others: NVDA, Z, CHGG, TSLA, SHOP, BYND
9) 34:00 Current Setups – CELH, INO, NLTX, CTXS, AXNX
10) 36:00 Conclusion/Summary