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Focus on the Positive; Learn from the Negative – My 2 Cents by Mike Simonato

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

Summary: whether in life or in the mkt to be successful we must Focus on the Positive and Learn from the negative and move on quickly.  Now for the Markets:

DOW JONES:   Weakest of the 3  Failed at resistance but holding the 200 SMA  8 EMA acting as resistance with Stochastics and RT are rolling over

NASDAQ:          Looking a lot better Watch for a breakout to new high.  Stochastics are also Bullish

S&P 500:           Same as Nasdaq.  Looking Positive

MKT TIMING:    Price has been in a tight channel the last 2 weeks

READ Views and Strategy   SEE Below for a few things that have worked through this mkt

July 31 2020 USA sub sectors

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CANADA

PTSE:                4 touches at resistance the last 9 days   Wedge setting up  Still low volume

VENTURE:        Continues to rock  Broke out Wed, Sellers tried to push it back down Thurs but the Bulls showed who’s in charge Fri

MKT TIMING:     Price resting the last 3 days.  Bearish Divergence continues.

READ VIEWS ( Stan continues to amaze), Strategy and Climate  (USA Earnings indicator unchanged. Canada continued further into Bear Territory fallingJuly 31 2020 model portfolios another 2 points

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