The Week Ahead – My 2 Cents by Mike Simonato

Written by:  Mike Simonato, Ontario
Presenter: “My Three Friends”, Dec. 3, 2016, VectorVest International Online User Group (Click here to View: My Three Friends)

Well another interesting week. I was happy once again until Friday. As I have mentioned many times in the past, money is always being put to work some where.  Stan Highlighted the 5G for us and Gold had a major up day on Friday. Will the rally continue and can we just buy any stock in the strong Sectors/ Industries?  Lets dive deeper but first lets look at the markets.

USA  

DOW JONES:           Just below the 20 SMA and bounced off weak support  RT has been falling most of Feb

NASDAQ:                  Closed above the 20 SMA and Weak Resistance but bad day Friday

S&P 500                    Closed at weak resistance and above the 20 SMA

MKT TIMING:            Closed above the 20 SMA  RT @ 99

READ VIEWS and STRATEGY

CANADA

PTSE:                         Held T Line (8-EMA)

VENTURE                  Breakout Continues

MKT TIMING              Held the T Line

READ VIEWS, STRATEGY and CLIMATE

Where is money being put to work.

USA     5G and 5G Towers ( Thx to Bob Turnbull for these)    See attachments to see the best performers

CANADA GOLD  Money flowed into Gold this week but look at the graphs of:

ELD      Huge up day Friday.  Would want follow through on Monday before considering

TXG     did the Swing Trade I mentioned as it broke above the 79 MA and has now failed at strong resistance

WDO is an example of a graph I would trade more so

As always nothing more than my 2 cents and I hope it’s of value and interest