Unlocking ETF Trends: Weekly Market Review & MAXLIST Highlights – Aug 11, 2024

In this week’s market review, Pat Walker from Mission Winners provides an in-depth analysis of various ETFs and stocks from the Max list. The analysis covers a wide range of sectors, including technology, biotechnology, real estate, and more. Pat emphasizes the importance of looking at both weekly and daily charts to get a comprehensive view of market trends. He points out that many stocks and ETFs are showing signs of basing or slight improvements, but cautions against rushing into trades without clear, high-probability setups. Throughout the analysis, Pat stresses the importance of volume in conjunction with price action. He notes that stocks rallying on decreasing volume often lack the power needed for sustained moves. The review highlights several key stocks like Apple, Amazon, and Tesla, which are showing potential base formations. However, Pat reminds viewers to be cautious with stocks trading below their 50-day moving averages, as these setups are generally less reliable. Pat also shares valuable investing tactics, such as setting price alerts slightly below potential breakout points to allow time for proper analysis before making trading decisions. He emphasizes the Mission Winners approach of teaching investors to adjust position sizes based on the quality of the setup, going bigger on high-quality patterns and smaller on less reliable ones. The review concludes with a reminder about the upcoming weekly Top Stocks to Watch video and an invitation for viewers to join the VIP membership for more in-depth daily analysis.