BlueWolf’s Weekly Market Sentiment (New and Improved with Better Flavor!)

[BlueWolf]

Market sentiment for week ending Feb 26, 2021

Short Term Bias: Bullish
Long Term Bias: Bullish

I have included an annotated daily chart for the NASDAQ. The S&P and Dow are similar to the Dow, and I have not included their charts.

All three indices made new highs early in the week. The NASDAQ, however, then pulled back and bounced off its regression channel’s lower boundary. In mild contrast, the Dow and the S&P both based near their highs and look poised to move higher. For these reasons, my short term bias remains bullish. Since all three indices remain well within their regression channels and have recently made new highs, my long term bias is bullish.

Annotated Daily Chart for the NASDAQ:
https://www.dropbox.com/s/gxyr3krviu...02021.jpg?dl=0

Here are the stocks I will watching at the start of the new week:
Day Trade and Swing Trade Long Candidates:
QS
Day Trade and Swing Trade Short Candidates:
BYND, RBBN, YI, YY
Buy and Hold Candidates:
BL, EXPI, MGNI
Interesting Recent IPOs:
RAAS

Good luck with your trading and investing.

[BlueWolf]

Market sentiment for week ending Mar 5, 2021

Short Term Bias: Bearish
Long Term Bias: Bearish

I have included an annotated daily chart for the NASDAQ. The S&P is somewhat similar to the Dow and I have therefore not included this charts.

Well, we had a bloody week, with all three indices closing down, week-over-week. It was more the way they closed down, however, that has me concerned. The NASDAQ’s uptrend completely broke down with the Dow and S&P teasing the lower boundary of their channels and looking like they had considerable downward momentum. Friday’s closing bar on the Dow is particularly worrisome. For these reasons, my short and long term bias is now bearish.

Annotated Daily Chart for the NASDAQ:
https://www.dropbox.com/s/4djyskdn9m...02021.jpg?dl=0

Annotated Daily Chart for the Dow:
https://www.dropbox.com/s/m4afi0cl8a...02021.jpg?dl=0

Here are the stocks I will watching at the start of the new week:
Day Trade and Swing Trade Long Candidates:
AMKR, FTNT
Day Trade and Swing Trade Short Candidates:
NMRK, NYCB
Buy and Hold Candidates:
(none)
Interesting Recent IPOs:
(none)

Good luck with your trading and investing.