We have a slightly confused market right now, which means tread carefully.
Tread carefully means only go for the plumb setups and make sure you protect your profits early. It works!
How can I tell it’s a confused market? Several factors:
- Great setups aren’t breaking out properly
- There are many setups for both bullish and bearish plays
- Many double crosses of the 200-day moving averages
- A market that appears bullish (bullish trends and bullish flags dominating) but is overweight with bearish railroad tracks and bearish momentum initiator bars which looked bullish only the day before!
- … and more
What you’ll also see today is dozens of stocks in the process of that bearish “Waterfall” setup. At the same time you’ll also see dozens of bullish looking stocks.
So, with the short week containing the Jobs Report on Thursday due to the Fourth of July holiday on Friday, it’s no wonder this week is a bit of a head-scratcher!
The Servers Have Migrated!
The server migration looks sound, so after a few days’ more monitoring we’ll be deploying new innovations, including my Momentum Initiator Bar, and my VIP TradeFinder which includes continuation and reversal filters.
I’ll be in contact when that happens!