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Trading Prep DEEP DIVE August 22, 2020

[videopress lTnmyiTQ]

Highlights

MARKET MOOD:

The market’s engine is revving! Yes, that’s right…revving!

Why do I feel this way? A few reasons:

  1. We have predominantly sideways trends on the weekly and daily charts of the major indexes.
  2. The number of setups expanded this week. I came across 17.
  3. Last week’s setups did extremely well, particularly the ones that made it to the action list like $TSLA $SQ and $AMZN
  4. The quality of the setups are impressive this week. 4 of them are above a 7.

When things are working and the setups are there, this is the market telling you to step on the gas. I’m going to put on 4% of new capital risk next week. This means that if all of the ideas on the action list are triggered, I’ll be risking 4% of my portfolio. This is the most I’ve put on in one clip in a while.

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TRADE IDEAS:

We have a LOT of quality setups this week. So much so that I’m planning to take 4 of them (should they breakout) and put 4% of total capital at risk.

On the action list includes $AMD $AMZN $NOW and $NTES

Here’s a spreadsheet with:

RESOURCES