MY JOURNAL FOR TUESDAY MORNING – OCTOBER 29, 2019
NEWS, BREAKOUTS, MOMENTUM PLAYS, & BOTTOMS
The Arc Leads To New Highs
After 7 days of trying to break above, we finally notched new highs on the $NDX! I kept wondering if we would ever get to the land of the new high ground! Apple (AAPL) was one of the stocks powering higher, giving us a path over the zone of resistance. The SPY ETF tracks the S&P 500 and includes dividends; that chart made a new high, but the $SPX came up just short. – READ MORE (click here to see charts)
It’s an important week to stay focused on which industry groups are working.
If you would like to subscribe to my new content platform on GregSchnell.com, I rolled out a Founders’ Rate that will lock in a 68% discount for an annual membership – for life. If you are interested in subscribing:
- Go to the Private Clients tab on GregSchnell.com
- Select the Annual membership in the red area
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- Enter the Coupon FOUNDER
- Hit the arrow just to the right of the coupon box to make sure the coupon is applied.
You will receive one strong, concise email per week. THE LINKS TO THE WEEKLY VIDEO AND THE CHARTLIST ARE BOTH INCLUDED IN THE PDF.
The email will contain:
1) A PDF file that will have my top ten charts of the week. This is to summarize all of the work I go through every week and give you the best information on market direction.
This will also include my preferred opinion on the market: very aggressive, moderately aggressive, selective, defensive, very defensive. We want to be aggressive coming out of major lows. These runs can last a few weeks to months and perhaps more than a year. I will be investing in the same tone I am recommending.
2) The weekly video which summarizes the major moves in the USA, Canada, rest of world, commodities, bonds and currencies including:
Commodities: Copper, Steel, Rare Earth Metals, Lithium, Gold, Silver, Oil and Natural Gas, Marijuana.
Bonds: 3-month, 2-year, 5-year, 10-year, 30-year.
Equities: The protection of capital to miss the big downside moves, as well as the aggressive entries near the lows to maximize profits in the moves and keeping it as profit in your portfolio. A large part of my work is about making sure that you’ll be in tune with the major moves in the indexes.
Currencies: A comprehensive look at the major currency pairs every week. These pairs can drive some of the major changes in world economics. Being aware of these changes when they occur can help you position for new strategies and selections as the changes happen.
Global markets are important to support major uptrends in the North American markets. A summary of this information enables you to be aware of country ETFs that are doing well to help you diversify your portfolio across global markets.
Again, the purpose of the subscription service is to give you a concise one-hour video of information to keep you abreast of the long term trends and places to look for big setups. This is not a daily suggestion box or a chat facility. It is for serious investors, with small or large amounts of capital to deploy so that you know when the positive winds are at your back while looking for gains and protecting capital.
Enjoy your week!
Greg Schnell, CMT, MFTA
Senior Technical Analyst, StockCharts.com
Author, Stock Charts For Dummies
The Seasonal Advantage Portfolio – EquityClock.com 📊
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Initiations on Docebo, K92 Mining & Rubicon Organics – CapitalIdeas 📰
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BREAKOUTS, MOMENTUM PLAYS, & BOTTOMS 📈
Brookfield Asset Management (TSX:BAM.A)
Xebec Adsorption (TSXV:XBC)
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