Last week in review 👉🏻Market Review+Core Position Analysis (13/05-17/05 2024)
“Long-term success in the stock market is not about hope or luck. Successful stock traders have rules and well-thought-out plans. In contrast, losers lack rules, or even if they do, they don't stick to them for long; they are people who deviate from the rules.” -Mark Minervini
A quick review of this week's markets:
$NASDAQ 100 Index(.NDX.US)$ Funding is attracted on Tuesday, divided by three points on Monday, and distributed on Thursday;
$S&P 500 Index(.SPX.US)$ Funding is attracted on Tuesday and distributed on Wednesday and Thursday;
$Dow Jones Industrial Average(.DJI.US)$ Divided on Tuesday, distributed on Thursday.
NDX>DJI>SPX.
I personally like the behavior of the Thursday market. After the NVDA earnings report, the market was full of joy before the opening on Thursday. A few times everything opened higher. After opening, the market showed its attitude, making people realize who made the final decision here 👏;
It returned to normal on Friday, and the market continued the upward trend that had just resumed before. Many stocks were set up, personal purchase plans were not yet completed, and there was still a lot of cash to use, so I wouldn't rush to clean up stocks that I currently hold and have not reached a stop loss; I need to let the market help me gradually screen out the weeds in my garden over a certain period of time.
ND...

This is a recent tweet from Mark Minervini on Twitter 👇
Since the day after the contraction was the quarterly earnings report, we have no way of knowing whether Mark traded this stock, but we can do it according to $Blueprint Medicines(BPMC.US)$The chart shows some telltale signs of why Mark is paying attention to this stock.
First, take a look at the IBD chart. The two recent sharp declines have produced a bullish divergence from the RS line 👇
Some other important metrics 👇
Back to the MOOMOO chart:
The figure uses purple lines to connect the high and low points of the finishing area, as follows:
101,84.81
97, 84.33
94.67, 88.46
94.98, 90.745
The difference is obtained by subtracting before and after:
16.19
12.67
6.21
4.235
High and low point gap%:
16%
13.06%
6.56% (met the conditions)
4.46% (conditions met)
Finally, a white line is drawn to break through the buying point, and the recent low uses a red line to indicate a stop loss.
Next, we use a $100,000.00 account as an account model. Swing trading corresponds to a reasonable stop loss range of 1% to 0.25% of the account
1% account stop loss = $1,000.00. You can buy 236 shares with a price difference stop loss corresponding to 4.235. The amount used: $22,427.00...

Back in beginning of April, I shared that China/HK stocks are showing sign of strength.
On top of the policies that China government impose, charts have  continuously formed higher low, and nearing a high - close to a breakout
$Direxion Daily FTSE China Bull 3X Shares ETF(YINN.US)$  YINN - leveraged ETF of $iShares China Large-Cap ETF(FXI.US)$ FXI, it tracks the big cap of China companies, have similar price movement but 3 times leveraged. I made my buying ...

$Warrior Met Coal(HCC.US)$ The RS line (main image is blue) is required to break through the previous height (the gap is not small at present)
$Oscar Health(OSCR.US)$The price needs to be further compressed to reduce the risk ratio
$Constellation Energy(CEG.US)$The graphics are all very good so far
$Applovin(APP.US)$ Tighter prices are needed, and RS and prices must be synchronized when breaking through
$Micron Technology(MU.US)$ Currently, the graphics are less than half complete, and they still need to be cleaned up.
$NVIDIA(NVDA.US)$ Since March 8, excluding small distribution days, there are currently 5 large-scale distribution days. The fundamentals are almost unbeatable, but it will take a long time to sort out.
$Viking Therapeutics(VKTX.US)$ We need to see a closer graph. Currently, RS is ahead of the price (good phenomenon), and it is not too difficult to find a low risk (stop loss within range) entry point, so it's worth waiting for the opportunity to try it out.
$Dell Technologies(DELL.US)$ The RS line is currently all good and requires tighter graphics.
$Vertiv Holdings(VRT.US)$ The risk of financial reporting has been overcome. The RS line is far ahead, and it will take some time to digest the excessive extension of 50MA...

Here is a classic wedge pattern formation on the Russel 2000. The price action is getting squeezed pretty tight. Watch for the breakout or breakdown soon.
$iShares Russell 2000 ETF(IWM.US)$
Today, the Russell performed better than all other major indices. Small caps outperformed in a big way, in fact. Even the mid-cap and micro-cap ETFs greatly outperformed the big 3 indices.
Cathy Woods ARK ETF contains a lot of small cap growth companies. Ever ETF outpac...

I do not think a major market top is being made here. To the contrary, the CPI data could cause a pullback in certain areas of the market, but our long-term models remain bullish with our January 13, 2023 buy signal still intact. Extended stocks are vulnerable, but odds are that a pullback of 4-7% in the $SPDR S&P 500 ETF(SPY.US)$  present a buying opportunity.
Interestingly, the hot CPI data may in fact help to keep the rally going. Why? Because a less likelihood...