ARETE WEDNESDAY NEWSLETTER

STOCKS CONTINUE TO CLIMB ⛰️🚀📈

Stocks continue to climb! After we opened down on Monday we saw a huge rally followed by two more days of buying. Its very hard to ignore the three day winning streak in the indexes. While we thought Monday might be a snap back rally the constant buying across the board and continued breakouts working gave us a good indication that the selling might be done. We had a huge rally in the vaccine names MRNA ,BNTX and NVAX. We are starting to see BNTX pulling away on a performance basis. The SPY closed above the 8 day moving average and looks ready to challenege $435.62. This index acts the best as we never broke our lower trend line of the upper channel. This is based on rotation. We simply are rotation through out XLE(Energy) , XLF (Financials) and XLK(Technology). The Nasdaq (QQQ)closed above the 8 day moving average but we need to get above the lower upper trend line. We are seeing more action in IBB (Biotech) and this may help lead us higher. The Russell 2000 continues to outperform on the week. This is highly unusual to have 3% moves in this index. At first it looked like short covering but its starting to look like IWM may outperform. Below the charts is a video on what transpired today and what you could consider doing about it tomorrow. There is a ton of information in this video. Jobless Claims at 8:30. This is really the most looked at data until the next CPI number is released. Let’s get to it!

Lets Look at the Indexes!

Let’s Look at the Stocks!

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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. You need to develop your own process. I am willing to help. If you have questions message me. For example, to stop losses, I like to see them close. That does not mean that fits everyone’s risk profile.

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I can be emailed at: Arete@AreteTrading.net

Wishing everyone Massive Success

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