[Chris Johnson Penny Hawk Header]( Monday, August 28, 2023 Hello â As Iâm sure you know by now, Iâm a technical trader. The reason that the technicals work is because itâs a set of rules that people follow. This is why you never see a 72-day moving average, who knows, that might be the most accurate moving average line - at least when youâre testing for it (I have a friend that did exactly that and wondered why it didnât work) Instead, we get things like the 20-day moving average (MA20) and more importantly, the 50-day moving average (MA50)... Thatâs what weâre talking about right now - the MA50. Itâs what I like to call the traders' trend line and it tends to be the strongest line to look at when you trade like I do - with a 4-6 week outlook. Itâll allow you to identify the trend for a stock, get ahead of a rollover, and even time your trades. It can be as simple as looking if itâs trending up or down, but you can also apply rules such as knowing that if itâs trending higher thereâs a â
chance that itâll close higher that day, same for if itâs trending lower. Sometimes you can even see a full market pullback forming with it, for this, you need to use a tool that I refer to as the âmarket breadthâ Itâs a chart that looks like this: This tracks the percentage of companies trading above their MA50 - and thatâs the secret sauce. You can see thereâs been a precipitous drop recently but this indicator tends to rush from one extreme to another, and there are a few laggards that are teetering on their MA50 and ready for a drop - Iâll give you the list in just a moment. But first, we are going to be focusing on this all week, so tomorrow Iâll show you how you can use the names on the aforementioned list to formulate a trade - so watch youâre email for more info on that Chris Johnson By texting INCOME to 21852, you are expressly consenting to be texted about investing news, trade alerts and marketing communications from Money Map Press, LLC about Money Morning's Red Alert text messaging service at the phone number you use, even if the phone number is on a corporate, state or national do not call list. You also consent and unconditionally agree to our [Privacy Policy]( and [Terms of Use]( including the arbitration provision and class action waiver contained therein. Your consent is not required to make a purchase. Msgs may be sent using automated technology. Message frequency varies. Msg&data rates may apply. Text HELP for HELP and Text STOP to STOP. You are receiving this e-mail at {EMAIL}, as part of your subscription to Penny Hawk. To remove your email from this list: [unsubscribe here]( To cancel, or for any other questions or requests, please contact our Customer Service team:
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