he IBD 50 is showing some weakness, closing down on Friday with increased volume.
By scanning these charts, we can quickly see where the potential opportunities are and, just as importantly
Walker recommends focusing on a manageable portfolio of 7-10 stocks and avoiding day trading. He stresses the importance of earnings season and suggests using price
Look for those trading above their 50-day moving average and trending upwards. Breakouts from consolidation patterns like bases or cups with handles might signal buying
The message here is simple: avoid chasing stocks or ETFs below their key moving averages. Let’s move on.
I then provided examples to illustrate these points. ETFs like IYW and XLK were highlighted as sectors to avoid due to weak performance.
prioritize risk control, avoid impulsive decisions, and be extra cautious in this currently weak market
Emphasis on analyzing ETFs as they indicate the strength or weakness of groups, helping in identifying leading stocks for potential investment.
There are definitely some red flags to watch out for too. First and foremost, I avoid stocks or ETFs that are clearly trending downwards.
In the latest video series, Pat Walker from Mission Winners provided an insightful overview of both ETF market evaluations