Market News 9-15-23

News You Can Trade 📰

5 steps to build wealth the right way

Ray Dalio gives insights on what NOT to do

This stock could have the next massive AI rally

Cathie Wood is betting on this cutting-edge technology

The Market 📈

A #SPY bullish gap on above average volume after less than great economic data. What can go wrong? A “prove it” to me kind of day.

 

I’m not sure we could have gotten a better picture of price action after all the economic data that came out this week. 

The market held its ground despite many not viewing the information as bullish. A little troublesome when utilities is the top sector, but a positive sign with consumer cyclical posting solid numbers over the three main time frames that we watch. 

So that means we’re still spending money, in a way that’s positive. The big question on everybody’s mind: Is are we doing it on credit and is that going to lead to a crash?

As mentioned previously energy stocks have produced the best order flow for the last two to four months as crude oil punched through that big $90 level But that gives me a reason to pause and whether or not we’ll see them sell the news.

Financial stocks have worked their way up the list. It feels like it’s been ages since we spoke about them. JPMorgan actually broke down out of a two-week box only to catch a bid and break the top of the box. 

That kind of back and forth is what’s driving everybody crazy right now. It’s incredibly important to have discipline on the ideas not working out.  

The chart of #DUK is the poster child for that concept.  A textbook breakdown with a vicious move in the other direction.

NEW: AI COACHING! // Get ChatSTP Today

Related Articles

Stocks & Options For Breakfast | Bull Market Breakouts

Stocks  Long stock ideas Financials (BAC, GS) with potential for pullbacks but overall bullish  Healthcare (BHVN, JNJ) showing relative strength  Technology (DOCS) early uptrend Short stock ideas Basic materials (AEM, STLD) clearly bearish sector Energy (XOM, CVX) at support levels but potential to go lower  Risk management Position sizing critical in volatile markets  Use stop…

Podcast: Stocks & Options 3-23-24

Trade Stocks With Pete  |  Trade Options With John Summary Navigating the late-stage market cycle: How to stay cautiously bullish while avoiding potential pitfalls   Mastering the art of chart-reading: Discover why respecting technicals is crucial for trading success, no matter your opinions   Traders vs. Investors: Uncover the surprising differences in how they approach…

Stocks To Watch: Earnings Season Begins

Stock Trading Pro Pete Renzulli discusses the start of earnings season and provides insights on various stocks to watch. Pete emphasizes the importance of not letting headlines scare investors away from good ideas and highlights the financial sector, specifically mentioning JP Morgan and American Express. They also suggest categorizing stocks into different lists based on…

Stock Market Faces Critical Test

Outline Introduction Discussion about energy stocks and their performance on Friday Mention of sector rotation and order flow analysis Analysis of Specific Stocks Mention of M, TDR, and SM stocks and their performance Observation of buying coming back consistently in the sector Noting that some stocks are at or near breakout levels Energy Sector Stocks…

Responses

Your email address will not be published. Required fields are marked *