I think it’s fair to say we did well with our sentiment on the market over the last couple of weeks.
My words for it was “No Man’s Land”, and there’s a case for saying I could have been more forthright. But as you’ll see today there are some decent setups in both directions, though overall market conditions aren’t in their ideal state right now.
And what’s more is that earnings is around the corner, and with the ongoing Covid-19 crisis showing only slow signs of medical progress, many companies and analysts will be sweating over their prospects.
As mentioned last week, oil stocks looked weak and they duly behaved bearishly.
Financials also looked weak, and they too underperformed this week.
This week there are a number of interesting looking pharma/drugs companies, but note they do come with their own trading health warning!
In other news, I’ll soon be releasing the new TradeFinders that will included single Fast-Filter buttons for bullish/bearish “Four Big Money Footprints” that you can use and adapt into your own Favorite Filters. Plus the VIP Super TradeFinder will also soon be released for VIPs.
And that’s just the tip of the iceberg for our ambitious pipeline of development.
In the meantime, as I mentioned before, stay patient and be fussy. More favourable market conditions will come around again in due course as they always do. In practical terms that means if you are going to make trades, be super conservative with your P1s.