Defensive sectors are stronger - weekly market roundup 27th Apr 2019
Channel: Trading Profitably
Date: 2019-04-28

Defensive sectors are stronger - weekly market roundup 27th Apr 2019.

Instruments Discussed: $USO/$CL, $GLD/$GC, $SPY, $QQQ, $DIA, $IWM, $WPM, $CYH, etc.

The market is bullish, shown by several ETFs hitting new all-time highs. All four market ETFs are supported by Memory support. I mentioned one week ago also that you might avoid shorting unless these Memory support were broken. That statement continues to hold. 

However, reasons for caution also exist. The market is technically overvalued. That was true one week ago too. What changed this week is that most of the best performing sectors are in defensive areas. Also, though QQQ is the best performing market ETF, the Information Technology sector is not that strong, as you can instantly find out from CUE Edge sector scorecard. Some of the previously leading industries like the Semiconductors are now among the most decelerating industries. 

Reasons for caution does not mean the market is bearish. It means that you may be selective in your trades. Buy into strong forces (technical, fundamental, industry forces) and short into weak forces. You can carry out such CUE 360 analysis using CUE Edge, Vital and CUE Charts in a matter of minutes. You may follow the live market and stock analysis on CUE traders forum as well as Twitter and Facebook pages to see how you can apply the CUE technique in your trading.

As usual, we also carried out the sector-industry-fundamental-technical top-down analysis to locate low-risk high probability trade opportunities where forces from industry, fundamental and technical are aligned together.

These and much more in this market roundup. Time to hit the play button.

This video is a demonstration of the way Superior Profit Community members trade Stocks and Stock Options using CUE systems to generate consistent profit from the market.