Weekly Stock Charts
Identifying index & ETF trends in weekly stockcharts
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- Last Update: 21 May 2018, 6:30
May 21st 9:30 AM Update: Markets gapping up this AM on China trade hopes. See if we can hold gains. The reaction to the news is important (not the news itself). Last week was fairly flat in the major indexes with small caps being the exception & outperforming again. Oil names were also strong for part of the week. So, most of the action was in specific sectors or individual names & that's where I've been focusing. My basic strategy lately is to look for actionable set-ups on scans & also watch the tape for hot stocks. The best ones have volume & price moving together. Then, I enter the trade & immediately set a protective ATR stop loss. If all goes well, I'm scaling profits and looking for more trades - otherwise stop out or if the chart changes I will stop myself out. Whatever you do, have a plan that works for you & execute it. Good luck out there!
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