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Stock Market Recap: May 19, 2017 - SPY QQQ IWM NYA XLF IYR XLU XLP XLF XRT JNK UUP GLD GDX USO UNG JJC

5/20/2017

1 Comment

 
•Stocks set fresh highs on May 16th, but gap and run lower next day | More and more evidence points towards a correction | Breadth divergences present on many charts | QQQ is still the strongest of the major ETFs, but it is not immune from selling | Both QQQ and SPY are stalling at a yearly Resistance Pivot | IWM continues to chop around | Volume patterns for NYA are also suggesting a corrective pattern | Financials (XLF) retesting April lows and may not hold | XLF could be the leading indicator of a correction | Real Estate, Staples (XLP) and Utilities (XLU) have the strongest weekly gains and indicate a “flight to safety” scenario | Retail (XRT) very weak and could hit 52-week lows
•Junk bonds follow the stocks, but show more resilience to selling | Investment-grade corporate bonds and Treasuries have an excellent second week in a row reinforcing a risk-off posture
•Dollar index breaks support and likely headed for a retest of November lows
•Weakness in the Dollar is excellent news for precious metals | Gold has a Golden Cross | GDX consolidates gains | GDX has a bullish divergence
•Getting ready to short oil as it surges higher
•Natural gas chops sideways
•Copper could retest 52-week highs
Charts mentioned in this video are located here: stockcharts.com/public/1229503
Watch this video on YouTube
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1 Comment
indira
7/10/2020 04:57:07 am

Hi. Great comment. I don’t have all the answers. My thoughts are as follows:
1) If Feb or Dec 2018 caused massive losses then… you traded too big and too aggressively.
Many people (not me) actually made money in those months.
2) I don’t think there’s any other way to trade than to pick your spots and be patient.
You’re also reducing risk by being patient.
I trade much less frequently than I used to, yet my results are the same (and I have less stress).
If you’d like to discuss, you’re welcome to book a call https://beststockstrategy.thrivecart.com/30-minute-call/
or take the alerts at
https://beststockstrategy.com/memberships/

Reply



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