Market Outlook
After a wild start to the year and only 6 months later, the S&P and Nasdaq both have locked in new ATH's last week. If you were adding to your weekly contributions and staying the course during the market breakdown in April, you deserve a round of applause today.
Back during those April lows, the lowest price point that I was able to buy was $490 (low was $481) in the SPY, with a handful of members also joining in on that wild trading day. Less then 90 days later those buys are worth 25% more today.
During those extreme lows, it was wise to add to the market as most were running for the hills. It continued to be wise to stay the course and continue to add via daily or weekly buys as the market has recovered bettet then most could have hoped for.
Now that the market has hit new highs, I am increasing those weekly amounts to be more aggressive at new highs, just as we were being more aggressive at 52 week lows.
In the short term, sure, this is the first major retest, and we know, as I have said it repeatedly like an annoying parent, that the first major retest is often met with resistance. As profit taking holds this area down temporarily.
From a swing trading standpoint, we want to side step those battles of resistance as our entries need to be perfect. But when it comes to longer term more passive investing, being perfect is often better suited by being consistent then waiting for the perfect entry.
The S&P dropped 131 points after it last put in a new all time high.
In that moment, you, me or quite frankly anyone investing was not expecting the drop that followed. But even with that drop, we didnt waver, panic or change courses. We continued to add and were rewarded as a result. Just look at your performance today and compare it to what it was back in April.
My confidence in the market going higher is no greater today as it was back in April. I've and those following the same long term approach, continue to follow the simple rules that have rewarded us with market exceeding returns without having to worry about the latest headline or fear.
If the market wants to drop another 20% from here, great, I will continue to buy. If the market wants to continue to climb higher, even better, I will continue to buy higher. And I hope you continue to do the same as the market rewards time in the market more than it rewards timing the market.
From Bennett
SPY
Dow Jones
Nasdaq
Mid Caps
Small Caps
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Prenup Shirts In Stock!
Everyone who was on the surpise and pre order lists, your shirts have been shipped out!
Nearly half of our inventory has left and have been shipped out last week, you should be getting them this week if you ordered one.
If you would like to get your hands on one of our boldest designs yet, you can get on the shipping list here.
Once we have shipped the remaining shirts, we will be looking for the next idea of Trading Experts merch to create.
If you have already ordered a shirt and have an idea for the next one, shoot me a DM on discord and let's see if we can create another cool design!
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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's
AAPL
ADSK
BK
FAST
MDLZ
JPM
OLED
SCSC
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