The bulls made additional progress this earnings week. With the dip on Tuesday to the 21 exponential moving average (EMA) being held for the first time since August 2022, the bear market is looking done and over with.
Many names are above the weekly 21 ema and extended on the daily chart. We’ll want to look for a dip and hold to potentially start buying.
Let’s be disciplined right now, and focus on the price action and structure. Based on this current change of structure and the Big 3 buy signals getting rid of every sell signal, we’ll wait to see if these flushes behave as a bullish trend.
In the video above, we’ll review the Big 3 signals across multiple timeframes on the major indexes, and discuss major structural changes in the S&P 500 (SPY) and Nasdaq (QQQ). We’ll also walk through our trades on XLE and COIN in the Compounding Growth Mastery this week.
Have a great weekend, and stay Focused!