The Weekly Selection: 8/21/22

By: Tanner Yarton

Hey Everyone,

From here on out (or unless this fails miserably), I will be posting my Weekly Selection on Substack, as opposed to a PDF file every week. I think the formatting here should prove to be a bit better, and less tedious to adjust.

In addition, this format will allow me to keep a better record of my newsletter, and allow people to easily go back and see past newsletters without having to dig through discord or twitter to find them. This will not only hold myself accountable to deliver high quality information and analysis every week, but will also assist me in my career should anyone request my work.

Without further adieu, lets get into my first Substack letter.

BROAD MARKET:

Last week in SPY 0.00%↑ we saw a rejection off the 200 SMA pulling us back into the 9SMA by weeks close. I initially anticipated this move the week prior, but ultimately getting it last week did not mess up my positioning. It however did allow me to notice some considerable accumulation in Oil/Gas names.

If I were a betting man, I would have to assume that this week we see a retest of some build up volume around 407 and 417. This is indicated by the green highlighted box.

Chart:

Indexes to note:

One of my primary holdings and watched indexes this week will be energy names. VLO 0.00%↑ is breaking out of its multi-month base and I see potential for another run in the cards. Also, SWN 0.00%↑ Appears to be poised for a riskier, yet similar run.

Charts:

In addition to Energy, Some other names I would like to mention appear to be poised for moves in the indicated direction. See below:

GFS 4hr Look: We’ve seen large increases in volume accumulation in the last few dozen sessions, and it looks like GFS is just getting started. A Great add zone would be the indicated $60 mark. A golden cross (50sma over the 200sma) is also indicating a bullish trend.

PLAB Daily Look: Since some solid earnings in may, it would appear the sentiment towards Photronics has changed. With the next report coming out at the end of this month, I would expect a pretty solid ER run up. Will likely take shares over options here.

EQNR Weekly Look: EQNR really hasn’t shown much effect from recent market conditions, and is actually setting up quite a base. It saw an all time high back in 2008, indicated @ 43.31, so I think this is a realistic target for the stock. The level of confirmation is 39.15.

EQT Daily: Weve traded this one before on past selections, and its back again with a nice setup. Id expect this to break the local high and begin to push to all time highs of 60.69.

SE Daily Look: Poor SE got gutted like a fish after this last Earnings season. We could see some relief action down here.

GCT 5m Look: Chinese IPO name, similar to HKD. Could get absolutely ballistic above 58.36. We’re in this one from 43.5 adds.

Thats all for today!

Thank you all for taking the time to read my first official Substack newsletter. If you enjoyed, Follow me on my socials and subscribe to the newsletter by adding your email to the list below:

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I appreciate the support,

Tanner