The market is mixed - weekly market roundup 22nd Apr 2019
Channel: Trading Profitably
Date: 2019-04-22

The market is mixed - weekly market roundup 22nd Apr 2019.

Instruments Discussed: $USO/$CL, $GLD/$GC, $SPY, $QQQ, $DIA, $IWM, $LLY, $HPQ, $ARBN, etc.

The market is mixed. Two of the market ETFs, QQQ and DIA, went up and two, SPY and IWM went down. However, all of them are in an uptrend and supported by Memory support trendline. IWM is the weakest and the only one inside a triangle pattern. If the market declines, IWM or small caps may give the best shorting opportunities.  

Six sectors declined, and five went up. Defensive sectors declined over five days. However, on Friday, these defensive sectors accelerated the most. That shows a mixed picture at the sector level.

If you are looking for long trades, you may be careful and avoid buying overbought or overvalued stocks. You may also start to create a list of shorting opportunities in weak industries and weak fundamental stocks.

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.