Weekly Market Commentary

publication date: Aug 24, 2019

NOTE;  All posts are opinions only.  No investment advice is given.  Consult with a financial adviser and do your own due diligence before trading.
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Market Summary for Week Ending January 10, 2021


It's been a volatile start to the new year.  Lots of trading opportunities are yet to come!


Technical analysis was a little difficult at times this week, but the charts do seem to have some signals for next week.  $AAPL and $MSFT are bullish at the 60min time frame, and $SPY and $QQQ closed at ATHs Friday.  Also, there are very large OI put positions expiring this week - especially on Friday - so there's an inherent upward bias likely for next week's trading action.  Equities will face a headwind though, in that the U.S. Dollar appears to be strengthening and Gold and Bitcoin both look short-term bearish heading into Monday.


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Although the 60min charts and OpEx data are generally encouraging for charts this coming week, bulls should be cautious because the weekly chart has become over-extended, well above the 3-year rising resistance line.




I'll be posting updates throughout the week, as shorter-term trading signals appear on the charts.  If you're interested in knowing what I'm thinking and trading in real-time and aren't already a subscriber, come join me at tradingideas.info. 

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Chart signals continue to outperform the traditional "buy and hold" approach.  Assuming one had traded 1x leveraged $SPY shares at each of the entry/exit points, this is how compounded trading results compared to a buy-and-hold strategy in 2020:


January 1, 2020 - December 31, 2020*

Proprietary Trading System ("Shadow Index"):  +120.4%
Standard Buy & Hold S&P 500 Strategy:                   + 16.3%

* Prices assume that you traded 100% of your portfolio in $SPY shares (with no options leverage) at each of the entry/exit points.  Past performance doesn't guarantee future success.

Source:  https://www.tradingideas.info/articles/recenttrades


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