WEEKLY GAME PLAN April 2, 2022

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.
MARA List

Market Summary

MARKET MOOD: Yellow

The summary below is my interpretation of the data in the ‘Market Mood Log’ above:

  • Indexes Begin Digesting The Recent Move: It almost feels as though the market is in ‘stop and go’ traffic. It pulled back last week across the board and is sitting on short term support levels. In pulling back in this way, it created what I’ll call a ‘digestion zone’ where since the market made a big move off the lows, it is in a position to digest the move. If it holds above last week’s lows (coincidentally right around the 50sma across the board) and stays below last week’s highs, it will give proper bases a chance to form.
  • New Highs walking a tight rope: The New Highs are barely outpacing New Lows, sometimes by a margin of only 3. This means that the market can easily shift back to a ‘red’ condition and is one of the reasons why it feels like ‘stop and go traffic’.
  • Distribution continues to fall: Both the S&P 500 and the Dow picked up a distribution day on Thursday. This is the first either have had in about a week or so. Given the rally the market has had, a single distribution day like this is to be expected. If, however, distribution begins to pick back up again, it may become problematic.
  • There are 29 stocks total on the trade ideas list. A relatively thin list. No ‘A’ level trades but a few solid ‘B’ level trades. The healthcare and real estate sectors are looking interesting here with multiple setups in each. 2 of interest to me are MOH and EXR presently.
  • Open Trades: I have 1 open swing trades in AQUA. I exited most positions last week with only 1 win, 3 losses, and one breakeven. However, even with only one win, I was still 1R positive. This was achieved by letting winners run and keeping losses ultra small.

HOW I’M PLAYING THIS HAND: I’m continuing to hold AQUA which broke out on heavy volume last week and is closing in on my 1st scale out at +1R. I’ve placed orders for MOH and EXR, both are ‘B’ level trades that scored above 7 on the gauntlet.

Checkout the charts of the indexes below.

MONTHLY CHARTS (indexes) Over all Direction = Sideways: https://www.tradingview.com/x/1UpxhQPE/

WEEKLY CHARTS (indexes) Over all Direction = Sideways: https://www.tradingview.com/x/ZJYVepu4/

DAILY CHARTS (indexes) Over all Direction = Sideways: https://www.tradingview.com/x/lcy3DW2b/
(on the lower right is FFTY, the ETF that tracks the IBD 50)

MARKET MOOD REVIEW

LESSON

Elite Members go to Elite Training for this week’s lesson Q1 2022 Review & Post Analysis (Stu & Mike)

TRADE IDEAS

Trade Ideas, setups for the week ahead and group discussion (Mike)

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