At the end of each month I like to review the daily, weekly & monthly charts to get a full view of where we are. If you are interested in seeing my past analysis of the markets go to the search box on my home page and type in the symbol for the markets you would like to see.
There are some conflicting views on the different time frames for the markets. The daily chart of each market shows a correction is taking place with lower levels in play. While the weekly charts of the markets shows that we tested the old resistance (the breakout point) & bounced. The monthly charts are at a resistance point & forming potential rising wedges. So we have to give the markets more time to develop & let us know what it wants to do. I will stay nimble until we get a clearer picture. Please see notes on charts for details.
Doing my usual scans over the weekend surprisingly I found many names that looked good for long trades. I also surprisingly didn’t find as many names to go short on as I expected. I will post the charts of the 2 trades I am considering for Monday & list some of the other companies I am looking at.
I haven’t posted a trade plan since last Monday. Many ask me why. Its simple I haven’t traded any equities in the last week. I was only day-trading futures contracts. I still might not swing trade. I like to trade when I have a high probability of success & a low level risk. When the market is in a correction there is too much chop & uncertainty.
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Please click the chart to enlarge & read the notes
DOW JONES $DJIA
S&P 500 $SPX
Stock I will take Trades In:
I might add this stock in morning w/ stop under 56
I might add short in morning w/ stop above 220
Stocks I am watching for a long trade:
Stocks I am watching for short trades:
There are more companies on my list but these seem to have the best R/R.
My Game Plan:
My Plan is to stay nimble. I might take the $KORS long & $NFLX short depending on how they open. I am not over eager to get into positions & hold over a few days as we enter the 4th of July holiday.
Thanks for reading.
Please DO NOT follow these trades blindly this is my trade plan & I know my risks. This is not investment advice or trading advice. This is for educational purposes. Do your own Due Diligence! Trading involves many risks. I post this for myself to get better & to learn from when I am wrong. I believe that mistakes are only made by not following your written trade plan. If you don’t have a written plan then every trade you make is a mistake IMHO. Losses are part of the game & a loss isn’t a mistake if you followed your plan. Please see my Legal Disclaimer http://yobronomics.com/disclaimer/
Contact me if you have any questions.
Michael J Zoitas
AKA YO BRO
Follow me for real time entry & exits with screen shots of charts, orders, & holdings at
Plan your trades & trade your plan! Failure to plan is planning to fail!
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