And a quick rundown of what's coming
Hello traders, Every week, my team and I produce a list of four stocks and our personal bearish/bullish bias for each. We do this to give traders like you more free resources, and in times like these, the more resources you can have, the better. But first, let's quickly take a look back at the week that was last week, before we jump ahead to the stocks to watch this week. As expected, the S&P paused (again, just for a few days this time) and found resistance … this time at the 20-dma. While we remain oversold, this time new lows are more likely to occur before the next retracement. The medium term outlook is still bearish, and we're likely to see new lows soon. We've mentioned that the SPY's next big support levels are 350, 340 and 320. We're watching the $350 level now because the likelihood of it being hit remains very strong this week. Now, without further ado, here's our Weekly Watchlist. | |
Those stocks are ones to watch closely this week. Remember that earnings is starting, and CPI drops on Thursday. It could be a very volatile week. So be prepared. | |
Cheers,
Guy Cohen P.S.: If you want more free stocks, Roger Scott and Jack Carter will be LIVE tomorrow giving away the five tickers they call the "Ultimate Portfolio." According to Roger's research, these stocks have not only survived the last five major market crashes, but over the last two decades, have outperformed the S&P 500 by over 36x! Now that's a watchlist you'll want to get your hands on! Sign up here so you don't miss the event | |
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