Market Update - 8/18/2024
• lots of EPs this week on good economic data
• all indexes are above 50dma, suggesting an uptrend, improving breadth confirms this
• however, still skeptical about this, given that recession fears probably did not dissipate completely
• also looking for some potential short setups in case we continue to the downside
• not the greatest amount of 5 and 4 star setups either
• seems like in this environment, EPs probably work better
• downsizing my position sizes, focusing on perfecting my process until I become profitable
• all indexes are above 50dma, suggesting an uptrend, improving breadth confirms this
• however, still skeptical about this, given that recession fears probably did not dissipate completely
• also looking for some potential short setups in case we continue to the downside
• not the greatest amount of 5 and 4 star setups either
• seems like in this environment, EPs probably work better
• downsizing my position sizes, focusing on perfecting my process until I become profitable
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.