WEEKLY GAME PLAN April 10, 2021

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.
Market Summary


The market is in a pretty interesting spot. Overall, the market is in an uptrend across the board on monthly, weekly, and daily timeframes. The only holdout is the Russell 2000 which is moving sideways but tightening up. On top of that, there are more stocks setting up in the Universe List now that are tight and compelling than we’ve seen in about 2 months.

Part of the reason why these market conditions are so interesting is because when conditions have gotten like this in the past after a choppy market (see Aug-Nov 2020 for similar price action on the indexes), the market went on to sustain a meaningful uptrend for another 3 months. We’ll see what happens from here and if a sustainable uptrend develops.

With so many stocks setting up (36 on the trade ideas list) and many of them potentially strong, I really wanted to scrutinize the ideas and find the top tier setups. For me, those ended up being SI and SSTK. I’ve outlined the trades in the action list but to summarize why I like these 2 in particular, it has to do with heavy volume on the weekly timeframes, a dry up in volume on the right side of the base, strong relative strength (a sign of market leadership) and fund ownership continue to ramp up.

Checkout the charts of the indexes below for a closer look at the action.

MONTHLY CHARTS (indexes) Overcall Direction = Up: https://www.tradingview.com/x/yOffAePe/?aff_id=15325&offer_id=10

WEEKLY CHARTS (indexes) Overcall Direction = Uptrend: https://www.tradingview.com/x/pidjKHIA/?aff_id=15325&offer_id=10

DAILY CHARTS (indexes) Overcall Direction = Uptrend: https://www.tradingview.com/x/5vmxMg2J/?aff_id=15325&offer_id=10https://www.tradingview
(on the lower right is the image of stocks hitting new highs vs new lows on the NASDAQ & NYSE)

Deep Dive Video


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Any content on marawealth.com should not be relied upon as advice or construed as providing recommendations of any kind. It is your responsibility to confirm and decide which trades to make. Trade only with risk capital; that is, trade with money that, if lost, will not adversely impact your lifestyle and your ability to meet your financial obligations. Past results are no indication of future performance. In no event should the content of this correspondence be construed as an express or implied promise or guarantee.
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