The market became more overbought - Weekly Market Roundup 17th Feb 2019
Channel: Trading Profitably
Date: 2019-02-18

The market became more overbought - Weekly Market Roundup 17th Feb 2019

Instruments Discussed: $USO/$CL, $GLD/$GC, $SPY, $QQQ, $DIA, $IWM, $MDT, $GPOR, $ADNT, etc.

In the last market roundup, I advised being careful with long trades as the market indices and ETFs were overbought in the daily charts. There was no opportunity for shorting. Bullish traders were to be careful and not chase stocks. Since then the market went up further. Now all the market ETFs are overbought not only in the daily but also in the weekly timeframe. It is, therefore, more reason to not chase stocks that are already overbought.

We don't need to chase overbought stocks as there are always buying opportunities that are low-risk and high probability. You can find them using CUE 360 analysis that aligns industry, fundamental and technical strength together, as we found out in this market roundup as well.

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.