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
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Market Summary
MARKET MOOD: RED
The market is a stone throw away from all time highs. I’m viewing the market as being in a ‘red’ condition. Here’s why:
Looking back over the past 4 weeks, the market indexes have been pretty turbulent on the daily timeframe, switching between sideways, downtrends, and uptrends. This could be seen a somewhat in on the weekly timeframes as well. See spreadsheet above.
The New Highs vs New Lows list on the NASDAQ remained just as odd this week as it did last week. On Tuesday there was a sudden spike to triple digit new lows and a quick recovery.
Distribution Days actually picked up last week but interestingly, Friday’s distribution day on the S&P could be viewed as weakness that was bought (it closed in the upper half of its trading range).
17 setups. 1 (A) level setup and the rest are B’s and C’s.
I have 3 open swing trades in AN, CROX, and NVDA. 2 out of 3 are positive.
5 of my last 10 trades were winners. This is within my historical batting avg about 40%.
I’m planning to start with week with one order placed in ZIP. Please see the ‘action list’ above for notes.
DAILY CHARTS (indexes) Overcall Direction = Sideways: https://www.tradingview.com/x/ruH6i6hY/ (on the lower right is the image of stocks hitting new highs vs new lows on the NASDAQ & NYSE)
Best Selling Author – Trading Coach – Creator of the Trade Gauntlet – Founder of MaraWealth.com
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