The Weekly Selection: 07/07/2024
Vol. 095: Chipping away at the future...
Investors,
Welcome to another iteration of The Weekly Selection. The purpose of this write up is to bring an all inclusive look at both the broad and individual stock market, how I view it, and what I expect for the next week.
In addition to this, provided within are a few goodies for your enjoyment, like the portfolio tracker for the stocks selected, and a parabolic trend analysis from a stock in the past.
If you enjoy this article, don’t forget to drop a like and a subscription to support the continuation of my FREE content.
Indices
After a precarious week two weeks ago - last week was left up in the air. A pivot appeared at 543, and I wanted to see it hold to suggest a move higher. The first session of the week saw a nice rejection off this area, opening way for the move up. The next three sessions saw that move play out, with the SP500 closing at all time highs.
SPY 0.00%↑, we are still 3 pivots up from the main base that was put in back in April, I don’t know when we will get it, but id like another base soon before sizing too heavily.
GLD 0.00%↑ What a clean move. My commentary last week was as follows:
Now id like to see it setup below $225.
RSP 0.00%↑ with annotations, pretty straightforward here.
Parabolic Trend Analysis
FSLR 0.00%↑ is this weeks parabolic trend analysis. I packed this one full of company information and more data than technicals. If you like this style, let me know by dropping a comment or a like on this post.
Past Performance
Performance vs the index wasn’t so great last week. I was not positioned well enough for a big tech move, and instead threw a post on purely based on technicals, which didn’t pan out.
Charts
With the market pushing all time highs, I am looking for highly liquid leadership stocks to put on this newsletter. lets get into it!
XPOF 0.00%↑ with a solid flag below the $17 pivot. I am looking to see this clear or I think it will struggle for a while.
NNE 0.00%↑ setting up a high and tight, this may need more time but I like it. The ADR on this name is extreme, and can produce gigantic swings. Stay nimble.
PANW 0.00%↑ a little stretched away from the pivot, but this tight daily is quite nice. On theme as well.
ENVX 0.00%↑ with a nice bull flag pretty high up after a slew of good news.
ONTO 0.00%↑ nice technical setup here, not sure what’s going on with the volume there towards the end.
That’s all for today!
IF YOU ENJOYED:
Subscribe to the newsletter!
$panw & $crwd gon buss can’t wait
Beauts