Welcome to Momentum Monday.
Choppy!
Markets are at a precipice.. Which way will they go? Don’t worry. Just play the cards you are dealt with.
Don’t forget our collaboration with Share for Beginners. The “Weekend Watchlist”. Bookmark this page to keep up to date with what we are talking about or follow Shares for Beginners on your favourite podcast channel.
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)
We are always open to suggestions on how to make this contribution better, so if you have any, please feel free to write them in the comments below. All comments to date have been noted so thank you.
A reminder that you don’t have to read all this contribution. Simply scroll to the area of interest.
Broader Market Sentiment
As we are adding more to the Member Corner this section will be made shorter to compensate. There will be less macro talk as that is available at other sources. We will limit discussions to chart moves only. Feedback is welcomed.
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
US markets retreated this week, not just eroding the gains of the past two, but closing at the lows.
S&P500 Weekly chart
I mentioned last week that no one was believing the rally of the prior fortnight and that distrust manifested this week.. The 2.4% fall for the week resulted in the RSI falling below 50 and MACD continues to reverse.
Notwithstanding the bearish sentiment, the short-term…
