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Unlocking ETF Trends: Weekly Market Review u0026 MAXLIST Highlights - May 12 2024

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Look for those trading above their 50day moving average and trending upwards. Breakouts from consolidation patterns like bases or cups with handles might signal buying opportunities. Strong buying volume is another positive sign.

Conversely, avoid weak spots. Steer clear of stocks and ETFs below their 50day average and trending down. Frequent reversal bars with big price swings and heavy selling volume indicate caution. Be aware of resistance levels from previous highs that could be difficult to overcome.

Some examples: Positive signs include SPY (SPDR S&P 500), IWM (iShares Russell 2000), QQQ (Invesco QQQ Trust), NVDA (NVIDIA Corporation), and NVDA (Direxion Daily Semiconductor Bull 3X Shares). XLU (SPDR Utilities Sector ETF) and XLE (Energy Select Sector SPDR Fund) are considered neutral, while USO (United States Oil Fund), SMH (VanEck Semiconductor ETF), and BIDU (Baidu, Inc.) show weakness.

Walker recommends looking at both daily and weekly charts for confirmation. Patience is key wait for good opportunities in a strong market. Use stoploss orders to manage risk, and remember, this is for educational purposes only. Do your own research before making any investment decisions.

For full overview please watch the video!

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MAXLIST tickers are included below. For the list of ETF tickers, visit our website and click on the post that contains today's video: https://missionwinners.com/relevantt...

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We are asked quite often what charts Patrick is using in these videos. The charts with the black background are Ensign Software. You can find more information about them at EnsignSoftware.com

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posted by bes60t8