I’ve arrived back home a little later than expected today following a short 3-day vacation. I had planned to put together a market update tonight but with the new subscription service rolling out today & not much new to report since my last update, I’m making it a priority to answer any questions or help with any issues transitioning from a free-trial/open enrollment period to the Gold or Silver membership terms. New members that recently started a 3-week trial will still have full access (Gold level) for 3-weeks from their sign-up date while anyone that has donated to the site will continue to have full access throughout April & will soon receive a email detailing your total contributions & matching credits, which can be applied towards any future subscription services.
QQQ daily April 1st close
Regarding the broad markets, about the only technical development worth mentioning since I left town on Friday was the fact that most US stock indices finish the trading session to print bullish engulfing candlestick on Friday. I won’t try to minimize the bullish potential of those candlestick patterns other than to say that the markets, especially the Nasdaq 100/QQQ (the index which I am most concerned with), still only managed to once again, essentially close at the bottom of the very technically significant Dec 31st/Jan 4th gap. That keeps the markets in a wait-and-see mode heading into the week: Will the $NDX solidly enter those key gaps and if so, will they be able to do more than just a backfill of those gaps before a healthy pullback or more lasting trend reversal?
As the bulk of the programming updates & membership roll-out has now been completed, my focus will start to turn back to the charts this week. I should have the short trade ideas updated early this week & with the long trades updated last week, my focus will turn back to looking for the most attractive setups, both long & short. I’m also open to any ideas, individual stocks, sectors, etc.., to replenish the Growth & Income Trade ideas as we had quite a few hit their final price targets recently.