My market outlook remains indecisive to bearish  - Market Roundup 18th Aug 2019
Channel: Trading Profitably
Date: 2019-08-18

My market outlook remains indecisive to bearish  - Market Roundup 18th Aug 2019.

For the second week in a row, I am maintaining the same market outlook. On Thursday the market found support (and I had tweeted about it in real-time https://twitter.com/SagarNandi) and on Friday market went up. Still, it was not enough to turn the weekly outlook to bullish.

All the market ETFs, as well as NASDAQ and NYSE broad indices, are having bearish weekly Backdrop. Three of the market ETFs (SPY, QQQ, DIA) are inside Triangle patterns in the daily chart. Sectors are pretty bearish. That is not a bullish market, even if it felt so from Friday's recovery.

At the same time, if the market continues to go up, there are many stocks with strong fundamentals that will give a valid CUE trade setup. You may keep an eye on them. I analyzed several such stocks in this session.

Whatever be the market condition, you can almost always find low-risk, high-probability trades in where the market, industry, fundamental, and technical forces are aligned. 

You may visit my forum (http://forums.SuperiorProfit.co) for regular and live examples of such 360° trade ideas.  And follow me on Tweeter (https://twitter.com/SagarNandi) to read insights about the market, sector-industry, and stocks based on real-time CUE analysis.