Welcome to Momentum Monday. The broader market at the minute is frustrating, but as always there are pockets that are doing well. Reporting season has thrown up its usual challenges and surprises, and we must remember, this is the market behaving normally.
Next Friday's Lunch 'n Learn session will be a wrap of the reporting season so be sure to book your place when we send you an invite shortly.
Though I want to kick off this week’s Momentum Monday with a quote from one of our nation's greatest rag traders Solomon Lew, who at the time of the release of his company's report said (and I quote), “Consumers have lost their collective mind.” The retail sector has actually been a surprise standout this reporting period. I am sure the RBA will have noticed as well.
At Stockopedia we too would like to share in the consumer insanity so if you know who (literally) has everything, give the gift of Empowerment by sharing our details with them. Read more here. While perhaps we are not as comfortable as a pair of pajamas, we’ll hold our value MUCH better!
On that note, let’s get into this week's edition.
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
We broke the string of three weekly loses with a positive week for the S&P500
S&P500 Weekly chart
The index remains above the…
