Arete Tuesday Newsletter

Stocks are resting not rolling.📈🤔🗞️

Stocks are resting after having such a big move last week. There is nothing showing they we are rolling back to the lows. We can rest after such a large move. For example, $SOXL is up 33% in less than a week. This means that the index is up over 10% so the underlying stocks might need a rest. This gives us the opportunity to add to the position you want to own. The $IBB, biotech index, looks to be weak having three consecutive days of selling. We are rejecting the 21 and 50-day moving average. Focus on what is working $SOXX, semiconductors, and $CLOU, Cloud software. $CRWD looks great and continues to look to outperform. Right now the $QQQ looks set to outperform. I will be using pullbacks as buying opportunities.

The $SPY continues to tread water. We are only 1.5% off the high but we have massive rotation. The $XLE , energy , continues to be weak and rejected the $54.50 level. The $XLF continues to act well and is staying above the 21 day moving average. We are seeing inflows still into financials. The $XLK , has has the largest positive move of all the sectors in the $SPY. $AAPL and $MSFT are the two largest components of the $XLk. They total over 40%.

The $IWM continues to be the weakest. Note how we continually reject. We closed below the 21 and 50 moving average. Both averages are starting to point down. We are seeing a lot of rejection of the cruise lines, airlines, and casino names. Mostly likely just a breather of moving to far to fast. I will be focusing on the $QQQ overall. Key levels are marked on the charts!

Let’s Look at our Indexes!

Let’s look at our Stocks!

Subscribe to YouTube! 👈Subscribe and turn on notifications. Below is a video of Tuesday’s game plan for tomorrow. It’s packed with actionable ideas. I walk through several trades. Consider making these videos a daily part of your routine. I go over the lessons from the trading of the pro series during them and point them out in real-time situations.

As always all investment decisions need to be made by the individual. We all have different risk profiles.No two people trade the same. Understand the buy points, stop losses, trims are suggestions. For example on stops. I want to see it close there at the end of the day.

You need to develop your own process. I am willing to help and offer feedback.

Please make sure you Subscribe to Twitter! 👈and turn on notifications. There are times my updates are timely in regard to the Newsletter as well as other ideas. I called levels on $RBLX and $UPST today.

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Wishing everyone Massive success! 🍀

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