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Broad Market Outlook
It has been a pleasant surprise to have been gifted some decent market action this passed week as the market as ran back up to a recent pivot high of 390 after putting in a new 52 week low for the year back in mid October on the CPI numbers.
Since then we have been getting some interesting whispers from the FED as they continue to show there cards as to whats in store in the future when decades ago, there approach was much more secretive until announced.
As we mentioned on a few chart talks, that eventually they would have to tapper the aggressive rate rising approach they have started with as the same trick often losses it power as it is shown over and over again.
Yet they also can't just go cold turkey and stop the hikes abruptly as they could also be blamed should inflation continue to stay as the topic of conversation.
As it seems that the FED will slowly pull back on its approach and the 10 year starting to test that steep uptrend after an insane run since the end of summer, the market just might have what is needed to continue to push up off these new 52 week lows.
New highs by the end of the year or even a retest seems to be out of the question as a 20% run up from here seems to be out of the question. But that does not leave the possibility of a move back into the mid 420's in the SPY which would present us probably with one of the largest percentage bases to date.
We have seen breakouts actually work this week such as the $50 run up so far in HUM, among many others that are on there own nearly vertical runs. If you are holding winning names, please avoid trying to anticipate the short term tops and let the stocks show you. If you feel your caught flat footed without any capital invested please do not chase just keep scanning to find those low risk set ups.
There have been some amazing call outs on the pre market calls such as Kusha's wedge breakout call in ACLX that is already up 10%. The more we can discuss ideas as a team the more we can all profit. Having a big PnL day is amazing, sharing the idea is even more profitable!
See you all first thing tomorrow for those who would like to share some ideas at 9am!
From Bennett
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Macro Rotation Outlook
SPY
Dow Jones
Nasdaq
Mid Caps
Small Caps
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Trading Experts Comma Day Watch
With more then 50 watches of the 100 we had produced shipped out, if you wanted to grab one before the remaining are sold let me know!
Trading Experts Comma Day Watch &Travel Watch Case for $249 - Reply "watch"
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Sector Rotation
Sensitive - sectors that have moderate correlations to overall market conditions.
Tech
Energy
Industrial
Telecom
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Cyclical - sectors that are more sensitive overall market conditions.
Materials
Consumer Discretionary
Financials
REIT
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Defensive - sectors that tend to outperforming during sub par market conditions.
Consumer Staples
Healthcare
Bio Tech
Utilities
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Big Picture Set Up
CIVI
With earnings tomorrow CIVI is worth keeping an eye on if it gives us a chance to buy up through $71.50 or if they are going to take the trade away from us.
HUM
A great reminder as to why we love these blue sky breakouts when they are finally ready to go, 6 days later and $50 higher in less then $10 risk. Simply just trailing vs LOD stops until the move tops out.
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