{+++} I know I promised that we would be back to the Sunday video, but I am converting some data and I’m not there yet. Next week we will be up and running.
So far the summer doldrums are far from boring as we are seeing some violent moves up and down. We witnessed another deplorable jobs number on Friday and that took the market lower. I think the market needed a rest and was looking for anything as an excuse to sell off. I know I wasn’t looking for a great jobs number, so when there wasn’t a surprise to the upside they took it lower.
All of our charts are still in good shape from a daily perspective and there is practically NO economic news this week other than a consumer credit number that come out late tomorrow afternoon. That could be bullish, the lack of data I mean.
I have adjusted the P&L, so please see if there are adjustments that effect any stocks that you are holding.
I still like energy and coal, and Friday’s pullback was necessary for higher prices.
Here are a few setups for the week ahead. I won’t be on the chat room until later tomorrow, probably around 1PM. Good luck tomorrow. As always, don’t rush to buy at the open and give the market some time to settle in.
Here are some charts of the new names, entries and stops are on the P&L.
CEL- Buy the 7.18 level
APA- Buy between 84.70-86.60 level
TSCO- You can wait to buy this as it gets through that white downtrend line, but you can also buy the 84.50 level using the recommended stop.
