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Broad Market Outlook
Most of the major markets and sectors are building solid flags for 3rd times a charm breakouts at the level that started the initial break down in the markets in late February. What was then support, has now been acting as resistance.
Chart wise most look good to break that level in time however we must remember that the broad markets and sectors usually need more then 3 attempts to really clear the level, while individual stocks tend to have a bit of an easier time clearing the 3rd attempt at resistance.
Given the overall impatience of this market being lead by Nasdaq and Tech stocks we might be able to clear those resistance levels sooner then we (I) expect.
We can profit and benefit from the markets impatience however we do not want to fall into the trap of being impatient ourselves. We saw a hint of this last week with some acting as if the world was ending because the market actually went down for 1 day.
Let's continue to find the tight risk spots buying up off of support that has continued to yield great trades for us all this year!
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Macro Rotation Outlook
SPY
Dow Jones
Nasdaq
MDY Mid Caps
IWM Small Caps
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Sector Rotation
Sensitive - sectors that have moderate correlations to overall market conditions.
VGT Tech
VDE Energy
VIS Industrial
VOX Telecom
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Cyclical - sectors that are more sensitive overall market conditions.
VAW Materials
VCR Consumer Discretionary
VFH Financials
VNQ REIT
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Defensive- sectors that tend to outperforming during sub par market conditions.
VDC Consumer Staples
VHT Healthcare
IBB Bio Tech
VPU Utilities
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Big Picture Set Up
KMB
KMB has be flagging as tight as possible up here under this $145 level, now with earnings on Thursday, I would expect it to consider to get tighter as investors get ready for their earnings report. This could be on to keep on the radar for an earnings gap up where I would be willing to pay up to $147.50 to get into, anything higher I will pass and wait for the next set up.
Earnings Thursday
Target $200+
Entry $145
Stop $141
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3rd Annual Trading Experts Vermont Trip!
Dates Jan 7th to 10th (Thurs to Sunday)
So far we have Alec Schuckers, Carlie B, Max Varga, Andy Hsu, Andrew Moffit, Ricky Gonzaelz, Alex Park, Rob Learn, Paul E, Ryan C attending!
10 Spots Taken!
10 Spots Left!
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