Arete Thursday Newsletter.
We have a new leader !
To start with, All the naysayers saying this is a bubble do not understand the driving forces of this market.This is a bull market.This is not a bubble.Will there be corrections?Yes.Will we enter a bear market soon?No.Watch the ten year treasury as your guide.Over 2% become concerned. Janet Yellen has telegraphed her moved. Until that changes we are on solid footing. Those that are calling this a bubble obviously did trade or at the least remember 1999-2000. We had stock moving significantly faster with huge velocity. This is orderly. There are some pockets heating up but they will deflate and then on to the next sector. Rotation Rotation Rotation. This makes a healthy market. Note the amount of volume coming into Semis and Biotech. That is not Mom and Pop buyers that is huge institutional money that must be put to work.
We have a new leader! The $QQQ broke out to new all time highs off the wedge we pointed out on Tuesday. We closed at $326.36! I expect this market to lead for some time. Watch the key Levels.Note how we moved up our support lines. For those that our in the $TQQQ trade, consider honoring the lines.The $IWM came off as we expected we were a bit overbought. We are looking for the 21 day to reengage the $TNA trade. The $SPY continues to grind higher and slowly.
Please note we moved up some key stop levels. We also have a new BP on $NIO
Let’s look at Indexes!
Let’s Look at stocks
BP=Buy Price Trim=place to consider selling a percentage. Stop=Risk(sell price)
Subscribe to You Tube! đŸ‘ˆ Make sure you turn on notifications.There are several ideas in the one posted today. For example $GME $FUV $XPEV with actionable points and process. We also periodically post videos specific to the newsletter.
As always all investment decisions need to be made by the individual.We all have different risk profiles.No two people trade the same.
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*For example there were key entry points given today on $FUBO.
If you do not see a position and have questions please message me.Thank you again for all the messages telling me how this Newsletter helped your performance or made you better.
Lets Finish Strong !
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Hi Arete. I like the black charts again, thx. Speaking of charts, I like how you create wedges when you draw them on your videos. Where or how can I learn how you do that? Thank you.