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Broad Market Outlook
As summer has officially came to an end, the market left us feeling blue, as the exciting end of summer run lacked the momentum to finish strong. As lack luster as the markets overall summer end pull back was, the enthusiasm for the market as kids get back into schools and adults get back to the office will start to pick back up.
We are still dead smack in the middle of the range in a market that we want to continue avoiding until it can shake out new lows and pivot.
Or more simply put, we want to wait for the 10 Year to retest its prior high and start to fad, once we see this, then it will be time to look to put risk on. Yet when 95% of stocks are closing down on Friday, we don't want to be the first ones through the door Tuesday morning looking to be a hero.
Continuing to avoid the market as the hard trade is still in effect is the A+ set up unless you can find one better and if so, please call it out on the Pre Market Call tomorrow.
As painful as it can feel to sit in cash or do nothing, sometimes that is the smartest play out there. Block out the markets irrational emotions and continue to trade with the level head.
From Bennett
SPY
Dow Jones
Nasdaq
Mid Caps
Small Caps
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Trading Experts Merchandise
As we get near the end of the production of the Trading Experts Comma Day Watch, I want to thank the 40+ members who have pre ordered the watch! With limited spots left, if you would like to take advantage please reply back to this email or DM me on GroupMe to get on the list!
60 Remaining*
PS if 10 more members join the pre order list before Monday's Chart Talk, we will select 5 names out of a hat to send the watch for free!
Pre Order Prices until September 1st.
Trading Experts Comma Day Watch, Travel Watch Case & Comma Day Shirt for $269 - Reply "full set" (After Sept 1st $519)
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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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Tax Experts
We have reviewed quite a few tax returns so far and have yet to find one where we could not have added value.
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.
What is the worst case of getting a 2nd opinion from someone who has successfully filed over 4,000 tax returns?
Let's have a second look at your tax return, if we can't find a way to save you taxes on this or next years return, we will give you a months membership free.
Worst case you get a free months membership!
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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
ABNB
Other then my own personal bullish reasons for ABNB over the long term in the short term we can see this base forming in it between 120 and the 130 area vs 110 for now. With out beaten up most stocks are and how this name is holding up, could be one to keep an alert set.
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