As I mentioned in last weekend’s video, I came into the week lightly invested because some negative signs were showing up in the market. They included: selling beneath the surface in many growth leaders, the lack of setups over the past week, the high bullish sentiment, and the upcoming election uncertainty. The positives were: the [...]
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I always like keep an open mind with my approach to the market. I look at the positives and the negatives and adjust my investment levels accordingly. The biggest positive is that the major indexes are acting very well. They are above their key moving averages, there’s very little distribution, and the overall price action [...]
From the end of September until October 12th, the market saw a very strong surge in many leading stocks. Since then, the market has been consolidating for the past 7 trading days and has pulled back to its 21-day moving average. As I mention in this video, the market moves very fast in both price [...]
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After Monday’s strong “Follow Through Day” (FTD) on the Nasdaq Composite, the remainder of the week saw the market consolidate on lighter and lighter volume. This is a good sign because you don’t want to see any heavy distribution immediately after a FTD. From here, it wouldn’t surprise me to see the market consolidate in [...]
***THE NEXT MARKET VIDEO WILL BE POSTED BY SUNDAY, OCTOBER 18th AT 9AM EST. THANK YOU*** The market continues to act well. We had a surprisingly strong day on Monday and it ended up being a “Follow Through Day” (FTD) for the Nasdaq Composite. This FTD wasn’t necessary to confirm a new uptrend because the [...]
Some articles on the Breadth Thrust Indicator developed by Marty Zweig: https://www.metastock.com/customer/resources/taaz/?p=37 https://www.investopedia.com/terms/b/breadth-thrust-indicator.asp https://www.thechartreport.com/10-09-20/ https://twitter.com/edclissold/status/1314591382477180930 To access this content, you must purchase a membership.
The price action in many individual growth stocks continues to be strong. As I’ve mentioned many times, 90% of what I use to judge the health of the market is the price action of stocks. Over the past two weeks, stocks have stabilized from the drop in September and many continue to breakout. We also [...]