Written by: Mike Simonato, Ontario Presenter: “My Three Friends”, Dec. 3, 2016, VectorVest International Online User Group (Click here to View: My Three Friends)
While the news of the Vaccine was positive these next few months will make or break a lot of businesses which may affect the markets. This week I show the Covid Quick Test of the USA Work from Home Watchlist (Overview WatchLists Folder) as well as the Watchlist Average Graph. Everyone needs to make their own decision but to me after the recent selloff there looks to be some amazing buying opportunities. The nice thing, as well as the quick Test, like the Sub Sector Watchlist there are No Losers. Being a Prudent Punk I like that type of Portfolio. Anyway now for the markets:
USA
DOW JONES: False Breakout at Previous March high or Bull Flag. Next week should tell us. Volume and RT are falling
NASDAQ: Tight Squeeze between 2 lines of Resistance and the 8 EMA Volume is rising. Watch next week to see what happens
S&P 500: Same setup as the Dow Jones
MKT TIMING: Broke out last week. This week taking a breather Squeeze between resting line and 8 EMA RT, BSR and MTI moving up nicely
READ Views, Strategy and Climate. (Earnings Indicator continues it’s slow steady rise up)
– Click image to Enlarge – 
CANADA
PTSE: Broke above resistance, came back and retested Wed/ Thurs and took off Friday RT rising but Vol falling
VENTURE: Broke above downward trend line and came back and retested twice before starting to rise again this week. RT flat Selling Vol higher than
Buying Vol
MKT TIMING: Broke above stubborn resistance Fri MTI Rising MTI and BSR sideways
READ Strategy, Climate (Earnings Indicator still flat.
As I have mentioned on many occasions the numbers I’m watching are the 2020 4th Quarter and 2021 first quarter as these should be more truthful as opposed to bought and paid for numbers. Also, everyone I have talked to recognize the world governments are so deep in debt now (and the hole is about to get a lot deeper) that it will likely be generations before the damage can be corrected so interest rates should stay low or even go negative for quite a while unless they doo what one comedian suggested. His words, “If Banks or Govts are so deep in debt who do they owe the money to? Can’t they just go to their computers, select debts and hit Delete all. Problem solved” Just a thought.
Anyway, nothing more than my 2 cents and I hope it’s of value and interest.
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