Trading Prep DEEP DIVE August 29, 2020

Welcome to the Weekly Game Plan! The 'MARA Lists' are updated in real-time. The 'Market Summary' is provided weekly. The 'Deep Dive Video' is the recording of our weekly Trading Prep DEEP DIVE.

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Up, up, and away! …into Extendedville! 😜

The market broke out on both the weekly and daily time frames last week across the board (except for the $RUT which is still sideways).

$SPX $COMPQ $NYA and $DJIA are all extended from near term support right now. This gives us 2 scenarios.
1. We stay extended and $RUT breaks out.
2. We pull back toward support.

Either way, unlike last week, this isn’t the time where I’d look to aggressively add fresh swing trades. Maybe I’ll add 1-2% capital risk next week but that’s it.

That said, there are a LOT of good looking day trade setups and if we do continue running next week, it will be great for day traders




More solid ideas coming in…

This actually has me feeling a bit more bullish next week even though we’re extended and has me leaning more on the hypothesis that we’ll get a bit more extended before the market pulls back.

Here are the lists for next week: https://docs.google.com/spreadsheets/d/1IQsUtRZcp6IoFRMYnn0YQZPPLcdSfHiMvlMlVApvCgs/edit?usp=sharing

On the action list is $AMRC $SEDG and $WST

Lots of other great setups on the focus list. Was tough narrowing it down this week to be honest.

Also lots of great looking day trade candidates! Check them out on the spreadsheet.


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