Market analysis and outlook (25/09-29/09)
“An organization that knows enough about a company and its future prospects provides purchasing power. They don't care about how much the stock has risen, but about where it is going and the prospects for future growth.” -Mark Minervini
The market improved slightly this week, NDX>SPX>DJI
$S&P 500 Index(.SPX.US$ Dispatched on Tuesday, divided by week, distributed on Thursday
$NASDAQ 100 Index(.NDX.US$ Distributed on Tuesday, attracted on Wednesday
$Dow Jones Industrial Average(.DJI.US$ Dispatched on Tuesday, Wednesday, and Friday
$S&P 500 Index(.SPX.US$ $NASDAQ 100 Index(.NDX.US$ Weekly chart: The SPX weekly chart has just closed at 30MA, and the moving average is upward, and the upward trend is likely not yet complete; NDX closed Xiaoyang Doji this week, without even touching the 30MA, and is still the strongest index.
SPX is still far from determining the upward trend: 1. Breaking through the bottom of the 2B structure; 2. Filling the upper gap; 3. Breaking through the downtrend line; 4. Breaking through the recent previous high; 5. Breaking through the last 3-month high; 6. Making up for the small gap at the top. Currently, the bottom 2B structure has only just been formed.
Compared to NDX, it is much better: futures (NQ) and stock indexes have formed a clear OBV bottom divergence at the same time, breaking through the 2B bottom structure and backtesting. Next, they still need to complete 1. To fill the small gap above; 2. Break through the recent previous high; 4. Break through the high point of the previous rebound; 5. To make up for the gap that has not been filled at the top.
At this point, I would like to see all the friends here try to block all kinds of noise around them and keep themselves in a comfortable and calm state. Starting next week until the end of October, there will be lots of data, news, speeches, powerful financial reports, etc.
Key points ~ Please prepare the following two steps:
1. When the market returns to an upward trend, be bold and establish a thorough strategy for LONG's strong stocks in the first half of the year (don't consider weak stocks);
2. If the market rebound fails and continues to decline with large trading volume or even falls below recent lows, focus on LONG: coking coal, uranium, thermal coal, oil and gas-related ETFs or strong individual stocks (breakthrough/waiting for the end of the contraction pullback after the breakthrough).
“Money always works and doesn't need a break for 24 hours, especially giant capital, which either appears here or there...”
Finally, make all necessary preparations in advance to avoid being too calm when an opportunity presents itself.
“I've found that usually the best stocks in a leading cohort rise before that cohort or industry is clearly popular.” -Mark Minervini
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
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