Good morning
I Hope you are having a great weekend. Equity sectors and indexes look strong technically >I know that there are a lot of people out there waiting for the bottom to fall out and a bear market to begin but there is nothing that I can see, that indicates it will happen anytime soon. Maybe, what I should say is, I don't see it happening in the upcoming week. There are a lot of great looking charts out there which you will see in this weeks video. The markets may take a hit if the Trump administration imposes the 200 billion tariffs on China goods which I think would be a temporary and shallow pull.
The bigger concern is the Fed and the pace of interest rate hikes. We have another Fed policy meeting Sept 25th-26th and it is expected that they will announce another 1/4 point increase at that meeting but the real focus will be on the language to determine the frequency and intensity of moves in the future. It seems to be a forgone conclusion that the Fed is going to create the next recession. Whether that happens or not is anyones guess. In my opinion Rates are still extremely low in comparison to historical standards.
IPO names have been hot and we have 8 more coming next week. We could see some wild action in a few of those names. Be careful and consider using a 1 hour chart as one of your time frames if you are looking to trade then. $FTCH $EB $XYF $BSVN $ELAN $YMAB $ZEK $RRI
Not a lot of economic data this week. FDX And ORCL are the big names reporting earnings this week.
We are going to be making another change to the Alpha Wolf Trading service very soon. Stay tuned change is coming.
Last weeks stocks to watch and their performance
(look at the TRK% column for the week)
This weeks video of stocks to watch
$RGNX $HEAR $KNDI $AVP $NVTA and much more
