SC Weekly – Trade and Invest with Purpose

 

Overview:

The purpose of this article is to provide some insight into potential upcoming trades and portfolio management across several markets.

Cryptos:

The crypto market still remains dull with lack of participation from traders making it a difficult market to navigate with swing trades.  Nothing has changed since last week, still a boring market lacking direction.

Stocks:

The stock market continues to show no letting up and we have a high target of 2785 on the S&P.  This is not an area to open new longs, but to take in profits.  This is why we took advantage of selling Covered Calls on our only open trade right now with AMD.

Forex:

The dollar is now trading just off a major support level and we expect a bullish reversal here, but there is no signal yet.  We are in a position but until we see a signal and trigger we will just monitor.  We use the dollar as a basis not because we live in the US, but it accounts for 85% of the trading in Forex.  Trading liquid markets helps reduce noise.

Podcast:  Do not forget the Podcast is today at 4pm EST and is now a 1 hour show.  The topic will be Fibonacci levels, and how to use them properly.  In addition we have a very special guest next week, who is an expert in blockchain.  Will announce later in the week, and we will take a few questions from our paid subscribers to limit them.

 

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