Bearish headwinds and memory breakouts warrant caution - Market Roundup 20th July 2019
Channel: Trading Profitably
Date: 2019-07-21

Bearish headwinds and memory breakouts warrant caution - Market Roundup 20th July 2019.

Instruments Discussed: $USO/$CL, $GLD/$GC, $SPY, $QQQ, $DIA, $IWM, $X, $CMC, $AKS, etc.

In the last market roundup, I cautioned based on bearish headwinds appearing everywhere and sectors weakening. However, memory trendlines held support. Now memory supports are getting broken. Sectors declined further from the previous week. Market ETFs fell, and breadth deteriorated. It is time to be cautious.

Some industries are bucking the trend and going up. And few of them are reversing from weakness to strength. You could look for buy setups in these industries as I demonstrated using live top-down analysis.

Whatever be the market condition, you can always find low-risk, high-probability trades in where the market, industry, fundamental, and technical forces are aligned. This week was no different. 

You may visit our forum (http://forums.SuperiorProfit.co) for regular and live examples of such 360° trade ideas. 

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.