Welcome to Momentum Monday. I want to start by saying thank you thus far for the feedback and stock suggestions. It has become increasingly clear that users like to see some of the chart analysis for individual stocks so we have made some slight tweaks to the revamped version.
Our intention was to always make the report shorter and to increase engagement. Therefore to that end:
We will remove the “Macro sentiment” component. I will still analyse the indices, however without the general commentary. There are plenty of other sources to obtain your macro fix and/or my attempts at poor humour.
- We will accept up to 10 stocks from members to analyse from a Momentum perspective per week (previously 2). If we receive more than 10 stock requests in a week, we will carry them over into future weeks.
However as previously highlighted this will be in direct response to member questions, we will not be making up codes to include. If we receive no requests then this section is omitted for the week.
Analysis will be conducted from a Momentum perspective primarily.
The Shine Zone will remain, as will the 5% from 52 week high lists.
Enjoy this week’s report. Here is the index:
Broader market sentiment
Member requests
Stocks in the “Shine Zone”
52 week high screen (including changes)
Broader Market Sentiment
We look at the direction of both the US and ASX markets to gain an understanding of the broader sentiment at the minute. While this analysis is not to time specific entry into or exit out of stocks, they are useful in helping us determine how aggressive/cautious traders should be in their trading.
US S&P500
It was the second down week in a row, however really, the index hasn't moved for the past 6 weeks. Like a coil spring, the longer we tighten, the more explosive the potential next move will be.
S&P500 Weekly Chart
For those interested at analysing bar charts, unlike the prior two weeks where the market fell at the start of the week but finished stronger, last week was a tight range further highlighting the indecision between bull and bears at the minute.
S&P500…
