21Jun10:41 amEST

Meal Planning Properly

We have a fairly calm morning of digestion taking place in most part of the market. On the surface, this is pretty much what we expected and why we did not necessarily want to feel compelled to chase yesterday's rally, instead opting to be a net seller. 

However, bears have proffered little actual technical evidence for us to simply readily accept regarding their hope for an imminent market top. Beyond that, if we see mere benign digestion like this morning, going forward, it could easily set up another round for quality long entries. True, small caps are off a bit more than the senior indices this morning. But as long as IWM holds above its 200-day moving average now I suspect the bear case will continue to feel the heat. 

As for new long setups emerging, recall the running list of leading fast/casual dining plays we have tracked here and for Members. Names like CMG DNKN DRI SBUX SHAK WEN WING have all been mainstays on this website of late. 

But JACK and TACO, below on their respective daily charts, ought not to be overlooked. Both fast food plays have been strong late-spring performers. And as we officially begins summer now, I want to keep a close eye out for both. 

Finally, one point about gold and her miners: If this is truly the start of a sustained bull run for them, any slight 1-to-3 day pauses, beginning with this morning, need to be aggressively monitored as I doubt a new gold bull will let in new longs so easily. 

The Best of War and More Weekend Overview and Analysi...

 
BackToTop
 

This website is intended for educational purposes only. | © 2019 MarketChess.com | All Rights Reserved | Website design by Saco Design | Superpowered by Site Avenger

mobile site | full site