The Weekly Selection: 04/30/2023

Volume 036

Introduction

Hello Everyone,

Welcome back to another volume of The Weekly Selection! It is my finals week outside of the market, so lets make this one quick.

Broad markets saw some volatility last week, bidding up to the top of the range that was defined in last weeks article. If we can punch through on this upcoming fed meeting, Id be interested to see if we get a nice tradeable run. Selfishly, Id love to see some selling back into the lower areas of the range to get some long term adds in, but we will see in a few days. The chart for SPY 0.00%↑ is below:

While we are still above all moving averages and the trend is tilting up, note that with fed meetings this week, things could lose stability in a hurry.

Quote of the week

“If you don’t know what port you’re sailing to, how do you know what wind is favorable?”

While this is not an investing quote, it draws many similarities. Outlining goals and objectives with personal investments are ideal, only then do the steps to get there become more clear. In this analogy, the same is defined in sailing.

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Past Performance

Pretty inadequate performance vs the index this week. All 4 of my favorites wound up red, with MBLY 0.00%↑ beating earnings, but not having good post news action.

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Charts

DXCM 0.00%↑ up first. Nice long consolidation and earnings out of the way.

NVDA 0.00%↑. if the market decides it wants to continue higher I see no reason why NVDA wouldnt be in the pack of runners. It does have a double top setup on the weekly, however with the velocity in which its currently moving I like what its doing right now.

XOM 0.00%↑ is one of my favorites right now. Much of energy looks beaten down, but XOM has maintained its range over the last few weeks. With record q1 earnings out of the way, This could be a runner to new highs.

Short read this week, Looking for better action than last!

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