Arete Tuesday Newsletter
Short and Sweet and to the point.
Nothing is broken. Everything is marked on the charts. I see no signs other than consolidation on the $QQQ. The markets are going to backfill and that’s exactly what they are doing. This is an opportunity to add to stocks you like on pullbacks. We have seen continued rotation into the $SOXX and $IBB and out of $XLE and $XLF. The $IWM pulled back right to the minor resistance and held. If you took the $TNA trade consider $100.67 as a stop to lock in profits. The $SPY flipped resistance into support at $394.17. It acts great. Simply consolidating. Usually, after a correction, We will test a Major resistance level more than once. That is what we are doing with $QQQ. We tested $324 and did not flip on the first try. That does not mean it's over it simply means this time it did not break it and may need to consolidate. This means more opportunities to invest. Please note the MACD and Bollinger bands on the $QQQ chart. Also, note all the new stop levels on the stock positions. Tons of charts so short and sweet today !
Let’s get to the Indexes
Let’s get to the stocks!
Subscribe to YouTube! 👈Subscribe and turn on notifications. The TOP 10 stocks of the week are still in play and some are at key levels.
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. I called the bounce in $QQQ today. You can see the time stamp. I also posted my entry into $FUTU Any questions please message me.
Thank you again for all the messages telling me how this Newsletter improved your performance and made you a better trader! Wishing everyone Massive success!
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