WEEKLY GAME PLAN October 30, 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.
MARA List

Market Summary

MARKET MOOD: YELLOW

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

  • Short pullbacks in a strong uptrend: That’s the story pretty much across the board. Both the S&P 500 and NASDAQ are finding support along the 5ema and have done so for about 2 weeks now. That’s impressive for an index. Volume is building to the upside as the indexes rebound off support on the pullbacks.
  • New highs out pacing new lows but not by much: Its still kind of wonky on the NASDAQ. Friday saw 114 new highs and -43 new lows. Better but I’d like to see new lows continue to dry up before shifting back to a green condition.
  • More distribution fell off the count this week. 1 distribution day came back on the count. The market quickly rebounded right after it on slightly heavier volume. This tells me that for now, the bulls are in control and are buying the dips.
  • There are 64 stocks total on the trade ideas list. There are many good looking setups but most of them have earnings reporting this week.
  • 9 out of 10 of my open trades are in profit. I’m letting them work and looking for spots to add.
  • Over my last 10 closed trades, my batting avg is back to 50%.

HOW I’M PLAYING THIS HAND: COIN has a potential flag setup with earnings a week and a half away. I’m looking to add to my current position if it breaks out. I also like SI here. The setup is aggressive. I’m playing both of these on the smaller side. Other setups are looking solid like GOOGL and AKA. I’m close to being maxed out so I want to be extra selective until more room opens up in my portfolio. Seeing as we’re in the middle of a strong uptrend, I’d prefer to do add-on buys to current winners than add new. If I’m adding new positions, the setup needs to be great and so does the the theme.

Checkout the charts of the indexes below.

MONTHLY CHARTS (indexes) Over all Direction = Uptrend: https://www.tradingview.com/x/UulirFlO/

WEEKLY CHARTS (indexes) Over all Direction = Up: https://www.tradingview.com/x/84PRPqbN/

DAILY CHARTS (indexes) Over all Direction = Sideways: https://www.tradingview.com/x/T8VuBwQu/
(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 topic Understanding MACD/PPO indicators, what it actually shows, and using it to your advantage (Stu)

WEEKLY PREP

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

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.