The holidays can be a great source of joy to spend time with loved ones. For us traders, having a tiny extra edge during this time of year can make them even more special by knowing to hold onto your trading ideas through some of the major holidays.
The holidays with the most bullish tendencies are Labor Day and New Year’s. There was a study completed that looked over the overall market performance on major holidays. During a period of 33 years, Labor Day was positive on 31 of those days. When it comes to holiday trading, if the market is closing bullish leading into Labor Day, it can be wise to hold long.
Now the market didn't close the week with a screamingly bullish close but it still has been flagging out very nicely over the past month. We should expect to see a climb back to 780 to retest the ATHs and with enough time a push to the 800 level. While most sectors are shaping up quite nicely overall.
Tech is flagging out nicely and we should expect to see a blue sky breakout in the distance future. Even Semi's which have been a bit of a laggard lately, have started to form higher lows recently. While Healthcare and Financials continue to respect there stage 2 breakouts perfectly.
As financials continue to flag out over the last month, its only a matter of time before we see a breakout higher in the overall bullish stage.
Healthcare is showing us the same set up and these two sectors are where we should be focusing on Tuesday if we get a nice holiday bump. To make your Tuesday morning scan an easy one, here are some of the top swing trading set ups for the week ahead. While my main focus is on WAT.
As this blue sky breakout continues to flag out nicely after setting up for the last 4 years.
On the financial names front, MS is flagging out nicely as it continues to set up for a move through 220. While on the tech side of things, MSFT is flagging out nicely.
Seasonally September tends to be a weaker month overall but we want to take one day at a time and what tends to be in front of us in the short term, is a holiday bump on Tuesday. Hope to see you in the chat on Tuesday sharing your top idea for the week ahead!
I originally opened 5 referral spots for current members, and only 2 are left!
Simply refer someone, and if they join, you’ll get your next year of membership completely FREE.
You can put me in a group text at 201-681-5633 or send them the link at the bottom of this email. Only 2 spots remain, and the promotion ends October 1st!
Thank you to everyone who provided feedback on the latest book! Over the years, some of the biggest improvements we’ve made to this business have come directly from your ideas and feedback.
I’m back in the library now, shuffling chapters around, adding some funny and relevant stories, and trimming the fat to make the book an even better read. I'll post all the updates in chat in real time over the coming months and into the new year.
And seriously… how did I think putting the glossary as Chapter 2 was a good idea? 😂
BNY
