Hello traders and MarketClub members everywhere! Here we are at the end of the week, the end of the month and anticipating a full moon this weekend. It has been quite a week and quite a month and I will be covering that in today's video.
One of my trading rituals that I do every week is look at how the markets have performed for the week. I don't mean that I look at every up and down movement, but I want to see if the market closed on a positive or negative note. I also do this on a monthly basis, at the end of every month or the last day of trading for the month, to see how a market has performed during the month. Much like my weekly ritual, I want to see if the markets I am following gained points or lost ground for the month.
I find this sort of exercise very refreshing as it takes out a lot of the clutter that surrounds the markets during the day. When you expand that exercise to a monthly time frame, you get to see a much clearer view of where a market is heading.
In today's video, I'm going to be sharing with you exactly how I look at the markets during their weekly and monthly time frames. By looking at these longer time frames, you will instantly see how it smooths out the actual true direction of the market.
I will also be looking at three stocks that I talked about on Monday and following up to see exactly what has happened in each of those stocks.
Time permitting, I'll look at stocks that are making new 52-week highs or lows to see if there are any opportunities for making a trade over the weekend following the 52-Week New Highs (or Lows) on Friday rules.
For everyone who has made a comment on our blog this past week, thank you. We appreciate your valued feedback.
Have a great trading day today and a wonderful weekend.
Every success with MarketClub,