Welcome to Momentum Monday.
One down week in everything, and the Bears are out with their claws showing. Will they be right? Eventually they will. But that is not the concern of investors who look like readers of this contribution.
Remember, we are not looking for the tops and bottoms, rather we are focused on the chunky bits in the middle. Therefore if you are using these methods, assume a few percent less than your actual performance as that is what it will be once the charts start turning… whenever that will be… maybe now?
Interesting links
Weekend Watchlist with Shares for Beginners this week is we talk of a Stock where we have to pay to play its Monash IVF (ASX:MVF). Listen here to the replay
“Empower Others” referral program Learn more here
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This week’s content is as follows:
Broader market sentiment
Member corner
Stocks in the “Shine Zone” (including changes)
Buses pulling out of the station (volume + price movers)
52 week high screen (including changes)
A reminder that you don’t have to read all this contribution. Simply scroll to the area of interest.
Broader Market Sentiment
We look at the direction of both the US and ASX markets to gain an understanding of the broader sentiment at the minute. It is important to stress here that I DO NOT use this to time my entry or exit out of stocks. I prefer to use the individual charts of stocks to do that. However I find it useful in helping us determine how aggressive/cautious traders should be in their trading. In short the more positive the broader market is the more risks you can take and vice versa.
US / S&P500
The biggest controversy I feel for the week was the colour of the last weekly bar. In Stockopedia it was Green because in fact the index closed the week…
