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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Highlights
MARKET MOOD:
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
TRADE IDEAS:
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.
Best Selling Author – Trading Coach – Creator of the Trade Gauntlet – Founder of MaraWealth.com
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