Written by: Mike Simonato, Ontario Presenter: “My Three Friends”, Dec. 3, 2016, VectorVest International Online User Group (Click here to View: My Three Friends)
My thoughts are the market is running out of steam and may have a pullback.
The size of the pullback will be determined by 3 key things:
- Q4 Earnings
- Covid numbers. ie Does it look like it’s under control and restrictions will be lifted
- Anticipated rate of economic recovery
Note I still feel that the USA Market is in better shape than Canada and has the potential to recover faster so my focus will be south of the border.
The following attachments show what I feel are excellent stocks/ ETFs that may do very well this year. NEVER TAKE MY WORD FOR IT!! Here is what you should do before buying anything:
- Look at the Graphs. Individually as well as Watchlist Average Graph for Each Group
- Do the Quick Tests re Returns (Some are newer and won’t show up on longer term Quick Tests)
- Make sure you fully understand what you are trading
As always nothing more than my 2 cents and I hope it’s of value and interest
While we can still make money in this mkt it may be advisable to exercise caution.
Now for the Markets:
DOW JONES: Price stalled the last 2 weeks. RT curled down at the end of the week
NASDAQ: Price and RT Rising. Strongest USA Mkt
S&P 500: Price rising RT curled down Fri
MKT TIMING: Similar to S&P 500 Price still in uptrend RT, MTI and BSR up from Monday
READ Views, Strategy. Earnings Indicator now in Bull Mkt Territory after 8 months
PTSE: Price has stalled at the March high and fell to the 20 SMA. RT Fell this week
VENTURE: Price and RT Rising nicely
MKT TIMING: Like PTSE, Price has stalled BSR Higher than Mon but fell last 4 days. RT same. MTI same as Mon but fell last 4 days.
READ Views, Strategy, Climate. Earnings Indicator continues to rise.
Look at the Stock of the Week TBL. Another way to play the Building Boom.
Look at QQQJ, as well as ARK ETFs
READ Australia, British and Europe Views
As always nothing more than my 2 cents and I hope it’s of value and interest.