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: RED
The market mood remains in a red condition heading into next week. There’s a few reasons but the 2 biggest are the chop on the indexes and the number of stocks making new 52wk lows outpacing the number of stocks making new 52wk highs on the NASDAQ all week long.
Here’s a summary of what I’m seeing presently:
Major indexes are extremely choppy. If you open up the spreadsheet above and look at the ‘market mood log’ tab, you’ll see how the market flip flopped back and forth between uptrend, sideways, downtrend, and back to sideways all week! That’s the equivalent of a laundry machine on the spin cycle!
The New Highs vs New Lows list is heading south. New Highs on the NASDAQ remained in the low double digits while new lows were consistently higher and often in the triple digits. The list on the NYSE began to follow suit last week as well with new highs drying up and new lows expanding.
Distribution Days are few right now. This is surprising given the chop and one of the reasons why I feel more chop is likely in store vs the market breaking up or down.
There are 37 stocks total on the trade ideas list. The majority are in the neighborhood which means they need a bit more time. 3 look solid to me and are ‘B’ level setups.
My 1 new trade from last week is positive. I’m holding FA as a short term swing and closed the week green.
5 of my last 10 trades were winners. This is within my historical batting avg about 40%.
The setups I’m seeing are interesting but this is still an environment where I want to exercise caution. Only trade what I perceive as high quality setups. Trade lightly. Take quicker gains. And play defense. I’m planning to place orders for PKI, SPT, and PAYC to start the week. Stay tuned and watch the ‘action list’ for updates every day.
DAILY CHARTS (indexes) Overcall Direction = Sideways: https://www.tradingview.com/x/DPC1OJOR/ (on the lower right is the image of stocks hitting new highs vs new lows on the NASDAQ & NYSE)
MARKET MOOD REVIEW
How to Find Leading Stocks using RELATIVE GROUP ROTATION (Presented by Coach Stuart Chalmers)
Best Selling Author – Trading Coach – Creator of the Trade Gauntlet – Founder of MaraWealth.com
DISCLAIMER: Futures, stocks, and options trading involves a substantial risk of loss and is not suitable for every investor. The valuation of futures, stocks, and options may fluctuate, and, as a result, clients may lose more than their original investment. The impact of seasonal and geopolitical events is already factored into market prices. The highly leveraged nature of futures trading means that small market movements will have a great impact on your trading account and this can work against you, leading to large losses, or can work for you, leading to large gains. If the market moves against you, you may sustain a total loss greater than the amount you deposited into your account. You are responsible for all the risks and financial resources you use and for the chosen trading system. You should not engage in trading unless you fully understand the nature of the transactions you are entering into and the extent of your exposure to loss. If you do not fully understand these risks you must seek independent advice from your financial advisor. All trading strategies are used at your own risk. 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. marawealth.com or Mara Wealth LLC. is not responsible for any losses incurred as a result of using any of our trading strategies. Loss-limiting strategies such as stop-loss orders may not be effective because market conditions or technological issues may make it impossible to execute such orders. Likewise, strategies using combinations of options and/or futures positions such as “spread” or “straddle” trades may be just as risky as simple long and short positions. Information provided in this correspondence is intended solely for informational purposes and is obtained from sources believed to be reliable. Information is in no way guaranteed. No guarantee of any kind is implied or possible where projections of future conditions are attempted.
