The dust has settled, here are the trends to watch
It took a weekend for traders and investors to accept that maybe they panicked a little too much Friday. Here’s what has shown the most resilience.
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Three larger trends to watch
While the indices are mixed, and commodities are generally weak, and the inflation trade is confused, three places look clear and ready for trades.
Update on ROKU and COST. 6/23/2021
We are at resistance in ROKU and COST, so trail up your stops or be ready to sit through a pullback. When we get a shorter time frame pullback, I am interested in trading these stocks since we haven’t met the larger swing targets and we have all of the moving averages on our side (royal setup).
Short or short-term in this market?
The market is showing some “seller’s remorse” today, but the question still remains: Is okay to be a buyer?
Is this a daytrading summer?
Maybe it’s the best time to daytrade in the morning and forget about what comes next. Keeping it nimble after Powell may make sense for some time to come.
Where is the strength now?
Whether it is intraday or end-of-day, we still want to seek out strength in a market that likely overdid it with the weakness last week.
Where is the strength now?
Whether it is intraday or end-of-day, we still want to seek out strength in a market that likely overdid it with the weakness last week.
Witchy Woman
Let’s do what we do every Friday, and review the core markets and the periphery to see how things are aligned into next week.