Welcome to Momentum Monday. And China is on the airwaves again for all the wrong reasons causing a bit of jitteriness. Excluding any perceived reason for the weakness, pullbacks are healthy, it’s just that the narrative can make things a little scary when we see sizable pullbacks the likes of what we saw last week.
It's been particularly hard for mining stocks because remember, if your revenue is down because commodity prices are down, and yet your expenses are going up, you are going to be in for a tough ride.
It's also the busiest week of the reporting season for quality companies next week. So make sure you don’t miss a beat with our reporting season calendar that you can access here.
And a reminder, on Friday we sent you our newsletter which included the entire strategy map series, consolidated into an ebook. You can access it here.
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The content for this week's edition is as always:
Broader market sentiment
Member corner
Stocks in the “Shine Zone” (including changes)
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
Last week’s negative move for the S&P500 has resulted in the first triple down…
