NYHL – Stock Market Direction
The number of new highs remains persistent. The histogram is above zero, with Monday price action testing the ascending trendline and support zone. All of this is happening as breadth moderates. NYMO and NAMO cycles continue lower as stocks take a breather.
NYAD is still making new highs, though Monday did see declining stocks outpace advancing stocks. A break of the trend line would signal a change in character that we need to monitor. We’ll do just that during the LIVE broadcast this week.
Remember, the S&P 1500 is still on a buy signal, so we are looking for a major change before considering selling
Futures are lower, so we will take a neutral posture today. If an opportunity presents itself, consider day trades for now. Caution is warranted.
BITCOIN is testing the 6000 resistance zone this morning.
Join us today in the trading room for our LIVESTREAM broadcast during market hours, as we trade the watchlist and other new positions. Watch, listen and trade from 9:20 AM to 4:15 PM Monday through Friday.
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Disclaimer: Do your Own Research
Our content is intended to be used and must be used for informational purposes only. It is very important to do your own analysis before making any investment based on your own personal circumstances. You should take independent financial advice from a professional investment advisor in connection with, or independently research and verify, any information that you find on our Website and wish to rely upon, whether for the purpose of making an investment decision or otherwise. Trades and or positions listed and taken from the watchlist are my own and should not be considered “advise” to enter any particular position or asset.
We would like to draw your attention to the following important investment warnings. The value of shares and investments and the income derived from them can go down as well as up; Investors may not get back the amount they invested – losing one’s shirt is a real risk; past performance is not a guide to future performance.
Live broadcasts are educational in their content. Proper risk management is considered on every trade or asset mentioned.
*** Stocks highlighted are for information purposes only and should not be considered as advice to purchase or to sell mentioned securities.
As always, the use of technical and fundamental analysis is encouraged in order to fine tune entry and exit points to average seasonal trends.
These mentions are stocks that we may or may not decide to trade as outlined in the watchlist. Always use a stop.