Hello everyone, this is the biggest post of the week. I am sure many of you enjoy this post because it covers everything, top to bottom and really allows you to get the feel for how the market is right now. This is the purpose of this post. I am glad I can help. I am trying to really improve this post in the weeks to come and really make it enjoyable for you to come visit. We will start with a review of last week –
Last week we said that a hold higher is something to watch for and if we get that we can likely breakout to all time highs. We did just that. Awesome. As for the individual names we talked about last week.. Many did what we explained MIGHT happen. One of the standouts is likely $YHOO. Very clean pattern in $YHOO in hindsight. No I did not play it, but this is just a way to review what did take place. We also talked about how another week below the 157 level in $GLD and we would likely break the major support level. We did do that, and now we are sitting below the major support and looks like it is going lower. If you would like to see the videos and posts from last week to review what we said and how it unraveled here are the links –
“The Week Ahead” Post (Last Week) – http://www.bencbanks.com/the-week-ahead-preparation/
Sector Analysis (last week) – http://www.youtube.com/watch?v=e_RVMN9x8Jw
Security Analysis (Last week) – http://www.youtube.com/watch?v=ybcxLjU3c5w
Going into this week I think we need to spend a couple more days above the Friday’s lows and then trade higher. I would not focus on the picking tops aspect of things – it it is USELESS. You do NOT know how long this can last, nor do I.
Before I get into the ‘fun’ stuff.. I would like to share a song (video) that I like. I am doing this because I believe this posts needs to be a bit more lively than it is. I enjoy country music and I am sure many of you do not but regardless, I will be sharing a music video or a funny video every week on this section of the post. This week’s is a song called ‘Endless Summer’ by Aaron Lewis. Enjoy. –
Now, into what you likely here for.. The stocks. Below are this weeks Sector Analysis video, the Security Analysis video, followed by all the annotated charts for your preparation. Be sure to look through it all and share it with your friends. As always, you may reach me for questions/comments by Twitter (@BENCBANKS), StockTwits (@BENCBANKS) or Email (Contact Me page). Have a good week.
Sector Analysis –
Security Analysis –
Finally, the charts –