Will We Keep Trending? | This Week's Opportunities

Hi everyone,

I hope you are having a great weekend!

In this post I’ll concisely share my thoughts on the market health and provide my wide list for next week. If you find it useful please make sure you are subscribed!

This article is brought to you by Deepvue. The platform that I use as my daily driver for screening, charting, alerts & more. Learn more at Deepvue.com

Now let’s dive in ↓

Market Action

The QQQ continues to respect its trend. Nice orderly pullback to the 21 ema and then a strong end to the week with a gap up.

The SPY is very similar, and closer to yearly highs.

The IWO continues to move up the right side of the base. Poor close on Friday.

Trends ( Based on QQQ)

Shortest - 5 Day SMA - Up - Above Rising

Short-term - 21 ema - Up - Above Rising

Intermediate term - 50 sma - Up - Above Rising

Longterm - 200 sma - Up - Above Rising

Group/Themes Action

Looking through my screens I noticed:

• Seeing setups in biotech, Maybe watch for rotation into this area

• Software remains strong, may be short term stretched

• Semiconductors still in top shape.

Wide List

Here is my wider list for next week. A good subset of stocks to use when building your focus list. I’ll post my personal focus list tomorrow.

From Deepvue:

ABNB ACLS ADBE AEHR AI AMAT AMD AMN APLS APP BHVN BKNG CELH CFLT CPNG CRDO DDOG DT DUOL ELF EXAS EXPE EXPI FN FSLR GFS GH GLBE GTLB HUBS IMGN INTA IOT IPGP JOBY LRCX LSTR LULU MLTX MNDY MORF MRVL NET NNOX NVDA NXPI ORCL OSTK PANW PCOR PEN PLTR PLUG PRTA RIOT RMBS SGH SHLS SHOP SLG SMCI STM SWAV TAP TER TFII TSLA U UBER WING WIRE YEXT ZS

Highlights

MNDY Double inside at the top of it’s first stage base

MLTX for those who like gappers on high volume

APLS basing right near all time highs. Great Revenue growth estimates from Deepvue

Final Thoughts

Things are looking strong, there are many leaders working. We’ve now been up 3/4 days in a row with a gap on Friday. Short term we may get some consolidation which would set up some nice pivots.

Looking through my screens there wasn’t much actionable setups that seem primed and ready for Monday. We also have a shortened trading week next week.

Be ready for anything and manage risk!

Recommended Resource

If you haven’t yet, be sure to check out the upcoming Masterclass with John Boik where he will be synthesizing over 100 Trading books and 20+ years of research into 10 Live Webinars and accompanying 230+ page textbook.

In the class you’ll learn the habits, routines, and strategies of Legendary traders such as Richard Wyckoff, William O’Neil, Nicolas Darvas, Gerald Loeb.

John will also be covering the blueprint of a Monster Stock using over 200 chart precedents and will be sharing analysis of Bull and Bear Markets since the 1900s.

You will also get for free a Ebook version of How To Make Money In Stocks by William O’Neil and John’s Monster Stock Lessons.

It’s an absolute steal right now at an early bird price of only $395.

The Early Bird offer is ending in only a few short days. The class starts July 8th.

---

I hope you found this article helpful!

Here is what you can do to help make them possible and support my work.

1. Leave a like on this post below

2. Subscribe to Trading Engineered

3. Share this post on Twitter using the button below
   

Have a great weekend!!

Richard