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:
Predominantly uptrends on daily / weekly timeframes: Only the Russell is still clearly moving sideways on the weekly time frame. On the daily, the NASDAQ has shifted to S+. The others S&P 500, NYSE, and Dow have pushed into fresh highs.
New Lows pick up on the NASDAQ: I think its odd to see the number of new lows on the NASDAQ jump to -73 on Friday especially given the price action on the index as well as the dry up in new lows it had seen throughout the week. This is my primary reason for shifting back into a yellow condition after being briefly in a green condition on Wednesday and Thursday.
More distribution fell off the count this week. There has only been 1 distribution day in the last 10 days on the S&P 500 and 2 on the Dow.
There are 66 stocks total on the trade ideas list. There’s 1 A level trade. The rest are mostly B and C level setups.
9 out of 9 of my open trades are in profit.
Over my last 10 closed trades, my batting avg is back to 50%.
HOW I’M PLAYING THIS HAND: The jump in new lows on the NASDAQ has me slightly cautious. I’d like to see that correct itself before switching back to a green condition. It’s possible for it to switch back to green w/in 2-3 days. Being that the majority of setups are B and C level, I’m being fairly selective. To begin the week, I’m placing orders for DAVA and WRBY both of which I feel strongly about. Others which are decent but have some flaws such as a relatively wide stop or minimal layers of confluence I’m passing on. With the largest number of holdings I’ve had all year, its possible add-on buys may develop mid-week and I’d like to hold some capital for them.
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.
