FREE MARKET UPDATE #191

Free weekly stock market education service with 3 stock ideas.

Disclaimer: The content is for educational purpose only. No investment advice. Please read the full disclaimer.

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Hi !

the NASDAQ and other indices had a nice bounce off the lows. But on Friday we saw a lot of failed breakouts and a lot of volatility in leaders again.

Bottom building takes time! It's rare that the stock market starts a new, strong trend directly after building a short-term bottom. We need a mid-term bottom, which developed over multiple months, had some shakeouts and retests of previous lows. But remember: Every mid-term bottom starts with a short-term bottom.

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Here is the content of the weekly free newsletter:

Comment on the current market situation
Stocks I am watching at the moment: $TPL, $YMM, $LSCC.
Trading tips: What do you do if you get frustrated with the stock market?

Thank you and good trading,
Julian

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MARKET CONDITIONS

The picture is the same as last week: Short-term bottom yes, general trend change no. The market is still in a down trend if you look at the weekly chart.

We need more strength here. The trend model I use switched to green, which means it is ok to buy stocks, but other indicators signalize that's you still have to be cautious.

In the Mid-Week Updates and Weekend Reports I give updates about the current situation in the Premium community. That's very helpful for a lot of members to confirm their observations and manage their risk.

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NASDAQ Composite (daily chart): The situation is not 100% clear. I would classify the current price action as sideways action and bottom building action. Below 11,000, we could see a quick test of the 10,000 level.

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3 LEADING STOCKS

This week I have 26 stocks on my watchlist, same number as last week. The best stocks and leaders are already moving higher, but leadership is thin.

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All weekly charts below 👇

$TPL: Trust which owns land in Texas. One of the larges land owners! Could benefit from higher inflation and higher oil / water prices. They lend their land mostly to oil companies.

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$YMM: China company which provides a platform for logistics. Profitable and nice head and shoulders chart pattern.

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$LSCC: One of the best semiconductor stocks I can find. Strong fundamentals and strong chart. Too early to buy into this name, but I highlighted it for the premium members and discuss the stock in the weekend report video.

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TRADING TIPS

What do you do if you get frustrated with the stock market?

Deal with your own frustration is important in trading. You need something which helps you to get back on track and clean your mind.

If I get frustrated about the stock market, I go through the chats from big past leaders. IBD & the work from William O'Neil is something I study regularly. But my own work from my video course too.

I assure myself that in every new bull market, leaders can go up several hundred percent and I look at where the trend started. Often I am surprised that the new uptrend started before or shortly after the market has bottomed. But if you look at the S&P 500 chart, you will notice that the leaders moved higher in a situation where it was not clear if this is a new bull market or not. That's the problem with leaders: They lead! They sometimes go against the market. There is no certainty in the stock market.

When I assure myself that buying leaders early is the right thing and the only thing I can do, my frustration is gone. You have to risk money to make money. That's the only thing what you can do and frustration is understandable but not helpful. Everybody needs something to get back on track and help for dealing with frustration. Otherwise you will sooner or later get burned out in the stock market.

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