The purpose of the Week Ahead post is to prepare you for the upcoming week in the markets. I do this not only to help others learn and develop trading skills but also to develop and cultivate my personal thoughts for the Week Ahead. Below you will find a written commentary portion followed by a Video Analysis the stock market and the set ups I am watching this upcoming week. This post is organized into sections, see bold titles and skip the items in which you are not interested in! Enjoy!
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This past week $SPY continued to bounce around and do little to nothing, this is semi-frustrating for those playing momentum and breakouts (like myself), but as a whole, breaks outs will not work without this type of rest.
Market Orientation/Conviction Level: Slightly positive, 5 (out of 10).
I have little conviction in this area as you can see from the above listed statistics. We will see how this develops for the upcoming week but as a whole, I am not looking to do a whole lot as of right now.
Above you will find the video for the upcoming week, I changed it up a bit and actually did a web-cam video with me sitting at my desk talking about stocks. Let me know if you like the other video capture technique better.
Set Ups for NEXT Week: Here are a few stocks that are HIGH on my watchlist for the week ahead. There truly were not that many A+ Set Ups that I felt like I should include in this post and therefore this is all I have got. Click to enlarge the charts and check out the video for a little commentary on each and every one of them.
Review of Last Week’s Set ups: Some worked, most didn’t. This is likely due in the most part because of the lack of momentum in the overall markets. It will not always be like this but for now, respect the lack of momentum and expect less.
Here is Last Week’s Week Ahead POST – http://www.bencbanks.com/bank-on-it-a-slow-start-picking-up-steam-ep-iii/
See ya here next week! Let me know if you have any questions/comments!