Hello everyone, here's my newsletter review of the market, commodities, and trade ideas.
The market has logically pulled back today from resistance, which I discussed on the weekend, and today it found initially support at the 9 EMA, now we'll see if it can push higher from here or not, but the 9 EMA is always the first support.
Tonight I review a few sectors, Retail (which was very weak due to retail sales and Walmart), Semiconductors which had a great day (I provided long ideas in this sector), and XLE Energy (and I provided some trade ideas in this sector), also almost all these stocks bounced off the 9 EMA.
The US Dollar had a big down day and as a results precious metals and gold stocks had another great day. Had you simply traded these precious metal stocks over the last few weeks could have made your year as many are up 20%, 30%, 50%.
Anyway let's see what happens tomorrow and remember Friday is Options Expiration and we are in Earnings Season.
Matthew Frailey
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