Ming Jong Tey
Independent Analyst
Watch the video extracted from the live session on 18 Jul 2023 below to find out the following:
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The only essential element to confirm if the bull or bear is winning.
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The outperforming sector to focus on maximizing the return.
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The red flag for a trend reversal to watch out for.
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The price target for S&P 500 and Nasdaq 100.
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And a lot more.
The bullish vs. bearish setup is 639 to 98 from the screenshot of my stock screener below pointing to a positive market environment.
Both the long-term and the short-term market breadth are pointing to a sustainable rally (e.g. buy on dip is back) with strength.
13 “low hanging fruits” (ACLS, UBER, etc…) trade entries setup + 25 others (U, PETQ, etc…) plus 17 “wait and hold” candidates are discussed in the video (47:04) accessed by subscribing members below.
A “good problem” from a member
Below is a screenshot from a member.
And here is her problem: how to maximize the profit while only focusing on the “strongest stocks” among a few dozen of decent trade setups? This is indeed a “good problem” to have in the current market environment.
Perhaps some would think that she could focus on the top 5 stocks and scale in to maximize the return while scaling out the rest of the stocks. This makes sense only if there are valid setups that show up in the top 5, else this will only increase the risk.
At this point, it is essential to re-assess the trading plan.
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Short-term swing trade or long-term swing trade?
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Are you comfortable switching to a position trade to aim for a higher target price and managing accordingly? This will involve allowing a higher drawdown if the stocks have a meaningful pullback.
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Could you redeploy the money stuck in those underperformed stocks back to those that trigger your setup?
The answers to the questions above are different for everyone. Therefore the trading plan will be different based on the risk profile and the adopted tactics according to the market environment.
Let me know what would you do if you are the owner of the portfolio above.
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Editors’ Picks
EUR/USD rebounds from multi-week lows, trades above 1.0750
EUR/USD came under heavy bearish pressure and declined to its weakest level in three weeks below 1.0750 on Friday after the stronger-than-expected Nonfarm Payrolls data. Week-end flows, however, helped the pair erase its daily losses.
GBP/USD remains on track to snap three-week winning streak
GBP/USD recovered toward 1.2550 after coming in within a touching distance of 1.2500 in the second half of the day after Nonfarm Payrolls came in at 199,000 for November. Despite the recent rebound, the pair remains on track to snap a three-week winning streak.
USD/JPY extends recovery above 144.00, US NFP in focus
USD/JPY is extending recovery above 144.00 in Friday's European trading. The pair is finding reprieve from downbeat Japan's Q3 GDP data, which checked the Yen's towering rally against the US Dollar amid hints of BoJ's policy pivot. US NFP awaited.
Editors’ Picks
EUR/USD rebounds from multi-week lows, trades above 1.0750
EUR/USD came under heavy bearish pressure and declined to its weakest level in three weeks below 1.0750 on Friday after the stronger-than-expected Nonfarm Payrolls data. Week-end flows, however, helped the pair erase its daily losses.
GBP/USD remains on track to snap three-week winning streak
GBP/USD recovered toward 1.2550 after coming in within a touching distance of 1.2500 in the second half of the day after Nonfarm Payrolls came in at 199,000 for November. Despite the recent rebound, the pair remains on track to snap a three-week winning streak.
Gold retreats below $2,020 as US yields push higher
Gold broke below its daily range and declined toward $2,010 with the immediate reaction to the upbeat US November jobs report. Although XAU/USD managed to recover toward $2,020, rising US Treasury bond yields triggered another leg lower.
Bitcoin price could retrace to $42,000 if US Nonfarm Payroll comes in at 180,000
Bitcoin price just like other assets, is highly impacted by the macro-financial developments. This includes the Nonfarm Payrolls (NFP) report released by the BLS of the United States.
The week ahead – Fed, ECB and Bank of England rate decisions
When the Federal Reserve kept rates unchanged back in November for the second meeting in a row there was still the distinct possibility that the final meeting of 2023 would provide the possibility of one more rate rise to round off the year in line with Fed policymakers dot plot forecasts of 5.6%.
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