Big Picture A Bad Relationship With Mrs Market

Broad Market Outlook
The market went on an impressive 16% end of summer run on quite the steep uptrend that, like always, no one saw coming. On Friday we caught a massively scary (kidding) 1% down day that for now seems to have broken the steep trend we have been on as the broad market stalled into major resistance. 
As much as people will say charts don't matter, the market just so happened to stall out after a 70 point run up off 52 weeks lows as this resistance level becomes more significant. 
Broadly the new range is huge in the SPY between 360 to 430 creating a 20% range. Even if we hung out in this range for another year, we would have plenty of trades to keep food on the table and the next round paid for. Higgins you got the next few rounds my friend.  
Now as much as opinions about the market can change almost daily based on new information, in the short term, the easy move seems to be over and just as fast as they rise, we never expect them to fall even faster, yet they often do. 
Just like a bad relationship, we want to tell ourselves that this time its going to be different, yet it often is the same song on a different day. 
Broadly I still feel we see new highs going into 2023 but this year position wise the theme continues to be buy the ugly and sell the pretty.
Market wise, most things look extremely beautiful as the SPY retests a major pivot high, Utilities are at new highs and Industrial's and Dow 30 names near the upper end of there ranges. Everything looks great, yet you just turned your head at dinner as a pretty girl walked by and Mrs. Market is about to slap you when you were just looking for the waiter to order desert. 

From Bennett




Macro Rotation Outlook

Dow Jones
Mid Caps 

Small Caps
Trading Experts Comma Day Watch
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Sector Rotation
Sensitive -  sectors that have moderate correlations to overall market conditions. 


Cyclical - sectors that are more sensitive overall market conditions.
Consumer Discretionary

Tax Experts

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We recently found a member who paid a tax penalty because his tax guy put he contributed $12,000 into his Roth when he only contributed the max. He paid a penalty for this persons mistake without being aware and his tax guy made up the most ridiculous excuse, it was just embarrassing. 

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Defensive - sectors that tend to outperforming during sub par market conditions.

Consumer Staples
Bio Tech
Monday Group Calls
Soon these will be done live on discord start downloading the app so when we make the move you will be ready!
Big Picture Set Up
NFLX has been off our radar for 2 quarters now after the earnings gap down but it has since retest the gap down high, as much as that sounds like an oxymoron, this name has a huge gap to fill and if we can find a tight risk entry through 250 there might be something here in time.  
UPS continues to work itself higher, keeping the same break even stop with the goal to sell into the retest of all time highs in time. 
Visa continues to flag out under this 218 area vs 210 for now, with earnings out of the way and a decent base that has been forming. Could be shaping up for a nice breakout after the market shakes out and sets back up. 



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