Following up on yesterday’s update, I use the NQ and YM alerts today to show to how and where the setups are when we shift to a bullish preference on the intraday setups in the morning. This is where you can see the different nuances of the YM alert and two ways it could be played. A must watch.
I’ve got to acknowledge that the market could see a correction at any time, but until it does, I’ll be looking to these leaders for continued strength.
Stock indexes closed well on Monday, continuing the advance we saw on Friday after the employment data. This could all reverse at any moment, but until it does, I’ll continue to focus on being bullish and working to find stocks that exhibit the best trends. We also spend some time on seasonality tonight, and how that may help us find good stock picks into the end of July.
As the upward traction continues to dominate, there are some adjustments to be made.
As we remain flexible to the ongoing narrative of the economy and equities, we also continue to keep our watchlist fluid.
There are a couple of major levers working to drive stocks here. Let’s look at what they’re telling us, and also identify the support zone on SPY where entering a new trade makes sense.
Let’s review the setups across multiple market “levers” that are all working together to power stocks higher. We will look for cautionary signals in the indexes, bonds, volatility, and the dollar. Most have impressive weekly setups to continue pushing on momentum, but at the same time, we want to be mindful of the entry on new trades, as the indexes trade well above support levels to start next week.
