Welcome to the Week Ahead post! The one of the few posts on the web that truly help you prepare for the trading week ahead (or at least that’s what I would like to think). If you have never been here before I am glad you stopped by. On this post we go through many many sectors and many individual securities as well. The point of this post is to help prepare you for the week ahead, not to do all the work for you but just jump start your preparation. With all this said, let’s jump into it!
As always, we will start out with a review of the last Week Ahead update. You can go back and read/watch last week’s post here – http://www.bencbanks.com/the-week-ahead-for-429-13/
Last week we decided that $SPY needed to hold higher above 157.20 for higher prices and any hold above that will likely lead us higher. We also discussed a lot of individual stocks, some notables are the following –
$MELI (not on the Week Ahead Post but on the StockTwits 50 Article I did). We said that as long as 95.50 held we would likely continue higher.
$MGM broke the weekly downtrend as we talked about last week and we said it needed to hold higher. It did just that early this past week and exploded higher.
$ATVI – Stills looks good now as it breaks out. Last week we said the 14.50 -14.60 needed to hold. Now we would need to see the 14.85 level hold.
The Two videos from last week can be seen by clicking on the following links –
Sector Analysis – http://www.youtube.com/watch?v=DlBP8IxoLf8
Security Analysis –http://www.youtube.com/watch?v=lrxqBlHkIUw
Alright, enough of that. You can always go back and see them all if you would like via the link above. Onto something more interesting.
Now, before we get into the rest of the post which will include 2 videos and over 20 annotated charts we need to have a little fun. The regulars will know what part of the post this is but if you do not already know, this is the part of the post where I share a song or a video I like and found entertaining. I do this just to have a little fun in the post and not just all stocks and work. This week’s video unlike most weeks is not a music video. Instead it is from a convention called TEDx, maybe you have heard of it or maybe not. If not, I will definitely recommend checking it out. TEDx website – https://www.ted.com/tedx and TEDx YouTube channel – http://www.youtube.com/user/TEDxTalks . Now this video here talks about how you need to find your passion and how you need to find something that you can’t NOT do. Very interesting video, really makes you think. Watch it one or two times then we will get onto more stocks.
Alright I hope you liked the change, maybe next week we will get back to more music videos. Going into this week we will need to see $SPY hold the 160 level (prior breakout level). I think we need to remain with a bullish stance going into this week as the trend is STILL up. However, that being said we need to be careful not to buy extended charts ($SPY, $SMH, etc). Some digestion at these current levels would not be bad at all. Personally I think some digestion up here would be great and then a grind higher again as we could be starting a new TREND higher. The banks did not lead us higher this past week but that is OK as the techs ($QQQ) did which is a good sector to be leading. The sector rotation continues to dominate the market – why don’t newspapers say “Sector Rotation Continues, Market at All Time Highs” – that would be the most accurate statement they could make but then again no one would read that newspaper with that type of headline. There are not a ton of individual stocks that are buyable at this point. All the stocks that have NOT broken out at this point are laggards and therefore should be treated like so and to me that means to SKIP them.
Below are two videos I did this week. The first is the Sector Analysis video, in this video I go over most of the major sectors and how they are lining up for the Week Ahead. The second video is a video called Security Analysis, this video goes through some of the major stocks that many people trade and how they are setting up for the Week Ahead. Below the two videos are the over TWENTY annotated charts I have compiled for the Week Ahead.
Alright now here is where I end the speaking, below are the twenty plus annotated charts. Enjoy. As always, if you have questions/comments feel free to Tweet Me on Twitter (@BenCBanks), or on StockTwits (@BenCBanks), or on the Contact Me page on the Website. Good luck.