01/01/2024: THE SHRED TRADING REPORT - ISSUE 065 - PART 01 - FOCUS LIST AND WATCH LIST
Enjoy the weekend report and happy New Year!
Hi traders,
Welcome to another report.
I’m brining back a few things into the report including the SPY QQQ IWO review with pivots and market breadth. I’ve also refined some of the screeners.
TrendSpider also has a good deal going on right now which ends soon. Use the link below and the promo code SHRED25 if you’re at all interested.
Enjoy the report!
Remember to check out my educational page, SHREDu, for educational posts. These will remain free and will continue to grow.
Link below:
SHREDu
I’ve also started to post the catalogue of HVC variations I play.
Link below:
SPY QQQ IWO REVIEW
SPY
SPY continues to advance on net highs. I will be looking for some weakness and a pull back around these levels.
I could of course be wrong but I would like a lower risk spot to add on weight again. I am watching the pivots below.
QQQ
Much of the same here. This could be a pullback shaping up as an opportunity to add exposure.
IWO
IWO started to pull back relatively harder here. I’ll be watching for demand to show itself before adding more exposure. I am watching the pivots and gap below.
BREADTH REVIEW
% OF STOCKS ABOVE 20 DAY
We’ve been at the high end for a while here. A constructive pullback would be welcomed.
Remember, the market can remain overbought for a long time.
% OF STOCKS ABOVE 50 DAY
Much of the same here. I would like a constructive pull back.
SCREENERS (FULL RESULTS IN PAID MEMBER SECTION):
✳️SHRED Relative Strength Scan (Sorted by RS over last 5 days)
BOWL GTX INBX NKTX —-(see the full screener results in the paid section)
✳️SHRED Medium Term Power Scan (Sorted by RS over last 20 days)
TSVT BTDR AUR BTBT MARA —- (see the full screener results in the paid section)
STANDOUTS FROM THE SCREENERS (NOT NECESSARILY SETUPS)
Paid member content below. Enjoy!
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Focus list updates during the week periodically.
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