Big Picture - Wolves & Sheep

Updated on
Big Picture - Wolves & Sheep

 
Market Outlook

The market spent the week building up some support above the 675 area. For myself, I spent the week with a dozen of you guys flying through 4 feet of fresh powder while spending as little time as possible focusing on the market. We still had some nice call outs like the Friday breakout in GOOGL.


The last few months, the market has felt a bit tricky or confusing as it has chopped around in this tiny 25 point range from 675 to 700. But this past week, it does feel like the market is starting to shake off the confusion just a bit. As there are quite a few pockets of strength out there. For example, Semi's are forming a textbook bull flag near all time highs. 

All this sector needs is NVDA to join the party and the sector as a whole should continue its climb higher. 

Even Nasdaq names that have been weaker overall compared to the S&P and Dow 30, saw names like GOOGL started to wake up at the end of the week. 

Shouts out to Chad who took advantage while I was calling this out from the chairlift. Sectors like Financials held up very well at support and it seems they may start to climb back into the overall range they been trading in. 

Which is another sector to keep an eye on for further support buy backs as it may start to climb higher in the coming weeks. Industrials, Small Caps and even the mega caps in the Dow 30 all look strong as well. 

We have seen the Small Caps break through ATHs and since turn that area into support, a great sign to see for further breakouts higher this year. 

Last week as a whole for most sectors and index's spent the week confirming there recent support areas. It wasn't a frenzy of buying, but more patient buyers trying to hold the line at there respective support areas. 

For most of January and Feburary, I was the most bearish I've been in years, but after last weeks price action, I am started to shake off that feeling and just maybe, we will see new all time highs in the distance future. 

There are a handful of textbook setups on the radar such as the blue sky breakouts in WSM, BYD and NVT. While there are nice bull flags forming in NVDA, MRK, PTGX, NTR, and SUPN. 


                                                                            
From Bennett
Founder Big Picture Trading


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Macro Rotation Outlook

SPY
Dow Jones
Nasdaq 
Mid Caps
Small Caps
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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

 

BYD

GOOGL

MRK

NTR

NVDA

NVT

PTGX

SMCI

SUPN

WSM


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Wolves & Sheep

For our 2nd trip this year, we spent the week in Utah riding snowmobiles and receiving nearly 4 feet of fresh powder to snowboard in. It was a blast spending the week with more than a dozen of you guys ripping through more snow than I've ever personally ridden in my life. If you are ever thinking of going to Utah to snowboard make sure to visit Brighton and Snowbird. 

During this trip, we experienced a massive snow storm in Utah. That on this one particular road leading to the major resorts caused a large amount of traffic, given that endless amounts of snow and windy roads make it hard for most cars to drive on. Throughout the week, we helped a handful of drivers get their cars unstuck and the same recurring theme continued to pop up of the differences between wolves and sheep.

Every car we came upon that was stuck was the blind leading the blind. There was one pickup truck that had 6 guys in it, stuck in a snowbank. Tim and I walked over to help and as we did, all 6 guys got back in their truck and thanked us for helping. As if Tim and I could move a 2 ton truck packed with people in it, stuck in a snowbank. We told them to all get out and work with us. After 10 minutes of listening to our directions, we got them out of the snowbank and they were on their way. If we had not intervened they would have been there for hours until another wolf came by and used critical thinking to get them unstuck. Every other car that we helped was just as clueless, yet within minutes we got them out each and every time. Anytime we got back in our vehicle, I would joke about wolves vs sheep.

The market is very similar, there are people who know what to do and people who are clueless. On that snow trip, we helped countless people who were clueless. We can't always be wolves in every encounter, because even yours truly managed to flip my sled in some powder (they dont lean as good as motorcycles), but the more you can be a wolf in most encounters, the easier life tends to be. 

Hope to see more of you wolves on the next trip this summer!

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Experienced Designer

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1 comment

Ben is a reported fraud
https://www.securitieslawyer.com/bennett-r-zamani-fined/
https://www.thinkadvisor.com/2022/05/18/ex-morgan-stanley-reps-suspended-after-making-misleading-statements/

Now he works under the name Ben Harrison
Ben Harrison
Telegram : @Earn_passiveincome_daily
Fb Group : https://www.facebook.com/groups/569921655088452
Fb Profile : https://www.facebook.com/profile.php?id=61573974081735
Website : https://firecapitalmarket.com

But originally is : Bennett Zamani
This guy was suspended for Fraud. And now I am one of the people chasing to get back my money since he blocked me when i wanted back

I will continue to post and warn everyone until i get back my money

Cel

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