TheTraderPilot Weekly Report 21/07/24

Enjoy the FREE weekly report

The contents of this report are as follows:

1. Market Overview.

2. Scan results.

3. Current Positions & Management.

4. Focus List.

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Market Overview :

Last week summary :

Market Performance:

• Indexes Mixed: Major indexes ended mixed with a shift towards value and small-cap stocks.

• Dow Jones Outperforms: The Dow Jones Industrial Average performed well.

• Value Stocks Lead: Value stocks outpaced growth stocks by 4.77 percentage points, the largest divergence since March 2023.

Sector Movements:

• Chip Stocks Decline: Sharp decline in chip stocks due to potential export curbs to China by the Biden administration. Impacted companies include Taiwan Semiconductor Manufacturing, Broadcom, and NVIDIA.

• Financials Boosted: Increasing likelihood of a Republican sweep in the November elections favored value stocks, particularly in the financials sector.

Economic Indicators:

• Positive Economic Data:

  • Retail sales (excluding gas and autos) jumped 0.8% in June.

  • Building permits rose 3.4% in June, ending a three-month decline.

  • Industrial production increased by 0.6% in June.

  • Philadelphia Fed's business conditions gauge reached a three-year high.

• Labor Market Cooling:

  • Weekly jobless claims increased to 243,000.

  • Continuing claims rose by 20,000 to 1,867,000, the highest since November 2021.

Federal Reserve:

• Powell's Remarks: Fed Chair Jerome Powell noted that inflation and the labor market are now in much better balance. The 10-year U.S. Treasury note yield fell for most of the week but spiked due to concerns over the Microsoft disruptions.

Miscellaneous:

• Microsoft Disruption: A global disruption to computer systems due to a security update error had little impact on U.S. trading.

Market indices :

S&P500 Composite Pullback and now below the 21EMA setting right at 5505 level.

The Nasdaq Composite Pulling back with the DMI negatively crossing with the 50SMA and 17490 level.

Dow Jones Industrial Average After breaking out it reversed but on lower volume and potentially could find a support at 39889 level or 21EMA.

Russel 2000 Index After a strong run making a 123 Pullback.

Breadth Indicators :

Daily Stocks Activity per Exchange: 🔴

% of stocks Above the 50SMA : Making a higher low 🟢

% of stocks Above the 200SMA : Still in the first extension zone 🟠

NYSE % Of stocks making new 52 Week For now higher low above the MA 🟢

NASDAQ % Of stocks making new 52 Weeks Making lower low below the MA🔴

NYSE McClellan Summation Index Climbing above the MA 🟢

NASDAQ McClellan Summation Index Climbing above the MA 🟢

Sentiment Indicators :

Put/Call Ratio At the red zone again🔴

Volatility index Nigh highs 🔴

Market Calendar :

High Impact

TSLA CMG GOOGL VZ VRT SPOT AAL ENPH F UPS CLF GE NOW GM T V IBM VKTX LVS NUE KO FCX NEM LW APH CLS DXCM TXN SAP NXPI NEE LMT BMY ABBV CB HAS SKX TFC TXRH STX COF CMCSA CHTR HON MMM LUV MEDP CCK RTX NYCB

Summary :

With markets withdrawing and Sentiment not showing a good sign, i think the risk should not exceed 0.1-0.15% per trade until we see more stocks making finishing a healthy pullback.

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Scans Results :

All Scans are done using Deepvue which you can subscribe to using the link in logo.

Alpha EPS Scan

ACLX ADMA ALKT AMSC ARQT AVDX AVPT BROS CART CIFR CLBT CLSK COIN COOP CORT CRDO GH HALO HOOD IMMR IOT ITCI JEF KN LAZ MMYT MNDY MNKD NVDA ONON OUST PGY PHR PLTR RBA RCL RKT ROOT RSI SBOW SKWD SMAR SQ SRPT TDW TMDX TPC TPG TRTX VIRC WT YOU ZETA

Alpha Sales Scan

ACLX AGNC ALNY ANAB APLD APO ARGX ARQT ASTS AVDL BANC BPMC BTDR CART CCOI CIFR CIVI CLSK COIN COOP CP CRDO EBC EBS ENVX EXR GMED GNL GTLS HUT IMMR IREN ITCI JEF JOBY JXN KRYS LEGN MARA MIRM MNKD NEM NISN NTRS NU NVDA OUST PAAS PHAT PR PRCT PTGX QURE RBA RDW REAX RITM RIVN RKLB RKT RLAY RNA ROOT RYTM SATS SBOW SIGA SRPT STEP SUM TDW TGTX TMDX TPG TRTX UWMC VIST WULF

Forward Growth Scan

ADMA ALNY ARGX ASND AVDL AXSM BANC BTDR CIFR CORT CPRX CRDO CYBR DCTH EBS GERN HIVE HRMY HROW HUT IAG INOD INTR IOT ITCI JEF KRYS LAZ LEGN MIRM MMYT MNKD MTA NCMI NN NU NVDA PAAS PRM QRVO RDW RKLB RKT ROOT RYTM SDRL SOUN SRAD SRPT SRTS SUM TDW TGTX TMDX TOST TPG TRN UWMC WULF

Code 33 Scan

ADMA ALKT AMSC APPF AROC AVDX CRDO ENSG ESQ INTR MITT NMIH NU OSPN QTWO RSI VERX WES WGS WT

Ultimate Strength Scan

No Result

High Tight Flag Scan

ADMA BCRX DYN EXK GDS GRPN INSM MIRM PBI RNA RZLT SRTS

Strong Inside Day Scan

LLY ARM KRYS HAE GKOS XPO ICLR JANX RDNT GWRE ALNY RIOT IREN AX LNTH INSM CLSK CBRE PRCT GMED ARWR QTWO HOOD SLNO BROS MRUS HOMB HWC IRM WHR IOT RNA TWST VRRM ADMA TTD REXR AVDL CADE CRNX ORN ESI KKR BTBT FHN PPBI GLNG CCL CLS CUK OSW STT AAPL NTAP CXW RVMD SPRY DYN ESRT RSKD PODD BOWL UCBI ANNX VNDA EFC DHC JQC ALC MTG EPRT ORIC PFLT MNKD LRMR ARQT SLG BDTX EGHT NMRK CDNA CWK GSBD ARLO CDP CRDO RLAY ITCI TRUP SNDX DAKT PTGX TGTX GVA AKRO AAON OLLI CG MOD CARR RH FTAI COST BURL ANET NVDA ZIMV DHI ALL

Strong Inside Week Scan

LBPH MYO NISN UP

Double Inside Day Scan

ORIC

Double Inside Week Scan

KOSS

50DMA Pull Back Scan

CLS HMY NN NVDA TER THC TSM

Bull Snort Scan

HE PSNL

The Nice Candle Scan

VSTR VIRT

• You can also find all the scans result (including the weekly scans) in the following TradingView Watchlist (Press on the blue Button) :

• Overlapping Tickers

  

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Chart Layout :

• Top pane: RS, $SPX in white.

• Moving averages: 10EMA (Off White), 21EMA(Purple), 100EMA (Blue), 50SMA(Orange), 200SMA (Thick Grey).

• AVWAPs : Cyan line anchored from different candles

• Lower pane: Enhanced Volume with 50 MA.

• Dots on chart (if any): 🟢 = Buy Point. 🟠 = Trimmed 🔴 = Sold.

• Lines on chart : (Important) ⚠️

  Red 🔴 dotted line = Stop loss put 1-3 ticks below it)

  Green 🟢 dotted line = Entry (buy 1-2 ticks above it)

  Orange 🟠 dotted line = Trim target (Trim 1 tick below it)

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Current Positions & Management :

GOOG 0.37%↑ Stopped out

TSM 0.00%↑ Stopped out

WGS -4.92%↓

CLS 0.00%↑ Stopped out

HALO 0.00%↑ Raising stop

XPOF 0.00%↑ Raising stop

CHWY 0.00%↑ Raising stop

ESI 0.00%↑

TME 0.00%↑ Raising stop

BG 0.00%↑

NVDA 0.00%↑ Stopped out

SRPT -2.49%↓ Stopped out

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Focus List (with recommended BP & SLPs) :

LCID 0.00%↑ | 123 Pullback

ZIMV 0.00%↑ | Inside after Bull Snort

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Thanks for joining me on this financial stock market journey for traders. Stay informed, trade smart, and keep a optimistic long-term perspective. I look forward to bringing you more updates and insights in the future.

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I have some exciting reports lined up in the coming weeks, and I can't wait to share them with you. Let's work together to grow our trading skills and make the most of these upcoming opportunities!

Disclaimer: This report is for informational purposes only and does not constitute financial advice. Trading involves risk, and individuals should trade at their own responsibility. The information provided does not guarantee any specific outcome or profitability. Readers are advised to consult with a qualified financial advisor before making any investment decisions. The author and publisher of this report are not liable for any financial losses incurred.