Market Tactics & Trades â Volume 2, Issue 3 Market Tactics & Trade of the Week #23 Hello Friend, The S&P Index has followed my profit patterns almost perfectly over the last several weeks. We saw the washout below 4300, followed by a bounced up to resistance and come back off just a bit. Over the past week, the market seems to be settling into a range while it decides which direction it is going to go next.Â
Meanwhile the Nasdaq and Russell 2000 have followed the same general movements, but the sell-off in January was more pronounced. This is not a surprise as both of these indexes are generally weaker during selloffs. February is a stagnant month for indexes seasonally speaking, with news and economic events dictating direction. As of right now, that direction leans to another push to the downside over the coming weeks, possibly testing the 4200 level again. Any hint of bullish news could prevent that from happening, and range trading is the more likely event over the short-term.  Advertisement The Almost "Guaranteed" Gambler
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There have been several false breakouts in the re-opening trade going back to the first Alpha wave of Covid-19, which gave way to the second Delta wave, and then the third Omicron wave, which has kept a wet pandemic-related blanket on the travel and entertainment sector on ice with much anticipation as to when these stocks will vault higher on an "all clear" sign that mandates and restrictions are lifted in full.
I for one have the view that we are not far from this turning point, and when the local, state and government powers that have enjoyed ruling our lives for the past two years have to give in to public pressure or commit political suicide, the travel and leisure stocks should seriously outperform in a major catch up trade. *** Ryanâs trade
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Wishing you a good and profitable trading week ahead! Sent to: {EMAIL} [Unsubscribe]( Spyrol Group, LLC, PO Box 1510, Clearwater, Florida 33757, United States