Active Trading Strategies | Pat Mullaly | 4-6-21 | How Do You Find Trades With Market At Resistance

another update market was uh pretty big yesterday what do you do when the markets continue to rally how do you define if you should continue to look to buy or if you should pare back some of your positions or if you should look for low hanging fruit let's talk about that stick around [Music] good morning good afternoon good evening everyone this is active trading strategies i am pat mulally and uh this uh is uh my twitter handle at people only underscore tda that you can see on the screen we're going to talk about the fact that the market had such some a big rally yesterday we've got uh some of the indexes up either at new highs or and approaching resistance or uh moving into that area maybe a little bit lower than some but you know that brings up some questions you know we get pretty excited and what we need to do is recognize that maybe our over exuberance might be a sign uh that maybe we if we have been having some uh some luck some success perhaps we should pull back some of our positions we're going to talk about that i want to say hello to everybody first uh before we get rolling in here uh and that means we're going to say hello to malin and casey c casey uh rock rch i'm just gonna call him rch from uh from westchester and alex and dwayne and wayne dwayne and wayne and narinder and lalit and vijay and john galt is in the room who is john galt famous first line from as i've said before atlas shruggs love that john galt uh and uh mark and uh tier ricardo m a mike mccarville uh a-l-a-f or a-f-a-f i have to bend down sometimes my glasses don't work so well need to get to the doctor but hello hello hello to everyone and um we should have barb or somebody in the room to handle chats here momentarily so marcelo hello let's get out there and start talking about where we are in the market and some of the other things we might do we're going to talk about things because this is education we're going to recognize that we're doing this so we can learn so we can build our own uh uh offense and our own defense over time remember we're going to look at actual symbols that does not mean the td ameritrade is making any kind of recommendation as to the suitability of the security or the strategy we're going to recognize that any investment decision that you make in your self-directed account solar your responsibility past performance of any security strategy does not guarantee future results because there's always risk in the market including the risk of loss zero commissions on u.s exchanges to stocks etfs and option trades option trades do carry a 65 contract fee and remember if we do talk about stop losses those orders will not guarantee execution at or near the activation price once activated they become a market order so today kind of a long list on the agenda but it's not really that long i just wrote down the things we're going to discuss uh and uh in in you know take some notes give some thoughts write down your your ideas that you can uh think about over over the rest of the night uh over the rest of the night the rest of the week and uh during the weekend so what do you do when the indices reach resistance you know that's when you know we've got to be careful of like like i said over exuberance we look at the markets we're going to look at managing some existing positions should we do anything should we just step back should we pair back should we close them out completely we're going to talk about that and when the market's at resistance should we wait for pull back should we just dive right in or should we look for those those low bounces those stocks that are just coming off uh from support and how do we search for those that's what we're going to talk about today so let's get out there and get rolling um let's see eve's in the room uh tamara tamara ac scott david frank dean daryl and uh we're waiting for somebody from uh to step in for the chat so i'll try to pay attention to the chats i'm not that great as you probably know at um doing two things at once so uh watching the chats and talking uh is like me chewing gum and talking but let's take a look at this so remember it's all about our perceptions our beliefs our opinions and we've got to make sure we understand our opinions the market has been very strong of late when i say of late i mean the last two weeks we've gone through kind of a consolidation period here i'm going to pop off this exponential moving average just to give us a little more clarity here and so the s p 500 coming into uh this higher uh upper channel line okay so that uh reverse or uh what we might call a supply line where and we're going to talk about this with regular stocks as well when we get to the supply line the channel line that's oftentimes what is the supply line well that's resistance why is it resistance because that's where people sell and that's why we call it supply line because that's where the supply may start to come in and supply overtakes demand now we saw demand come in here we watched price pull back make a higher low come in here and continue to the upside now we're coming into an area where market needs to make another decision are they going to continue to push things higher we've had a heck of a start to april as the market has had a nice run uh what's today tuesday so nice run friday monday and today going into the end of the quarter the beginning of the quarter but again what do we do when we reach up into this zone up in here our mcclellan oscillator the breath is getting a little bit better we still need to see that above this positive 150 area and we're not seeing a ton of up volume but that's not necessarily a horrible thing yesterday we really had about a one and a half percent upside and but we should have had a little bit more up volume so what is that telling us i want you to think about this for regular stocks too because when we look at volumes on regular stocks if we see volume starting to subside so we're not seeing the the spx doesn't really carry volume but we look at the new york stock exchange up volume up down volume that's what this is and it's just a measure of how many shares or are being bought on the uptick and yesterday we were about 56 percent of the stocks were being bought on the uptick on a pretty strong day that should have probably been somewhere up between 65 70 somewhere in that zone and so we're seeing that starting to slow we're seeing it starting to slow let me ask you a question how many of you out there have stocks that have start are starting to slow their ascent if you're if you've had some good success with some stocks how many of them are in your portfolio starting to slow their ascent barb is in the room uh hello barb there she is uh for those uh curious who we're talking about if you're new to this there's a chat page in that chat page you can type in comments questions uh answers uh thoughts all those different types of things and barb is there to answer and help out with any uh questions uh and there we go so i guess bar's been in another chat she probably had to take a break all right so this is where we are in the s p 500. let's look at the in the ndx ignore the stuff down below for the ndx because this is a totally different exchange but here we are we're seeing the ndx nowhere near the supply line the upper channel line so there may be some room for the ndx to move that's why when we were starting out i was saying well some things are close something's not so close so we may have some upside room in the ndx the nasdaq 100 for those that don't know uh and so maybe you turn your attention to those types of stocks that may uh be in the semiconductor area the software area the biotech area maybe there's more room to the upside or what do we know about this dashed line we know that this dashed line is the midpoint that can be resistance as well it's pushing above it uh today and holding above it today pushed above it yesterday and so we see that that's still showing some uh some upside tendency today uh versus the s p 500 let's look at the uh the the dow jones dollar sign d j i and here's the dow jones index of which we don't have a channel on but it's going to be very similar to the s p 500 i'm going to draw a reverse channel line here uh just to show the fact that it has uh broken is hanging out here breaking out to the upside and i say reverse channel line you're not going to hear that very often uh if you struggle finding the ability to draw a channel from coming down here the typical way that you're taught because you just can't seem to get anything to match uh then come up and draw it from uh from these old uh from the old highs are from the highs and where you get more touch points and either way it's going to oftentimes give you similar information so we're seeing the dow push to the upside that is again along the lines of what when we think about the dow those are the industrials and we pop but they're also filled with those nasdaq stocks pop this down here the apples the microsoft's the intel's uh but they also have those uh names that the retail names that are large discretionary is big today if we pop over here and look at the sectors and let me widen this out a little bit here well staples have started to pop back in discretionary is in number two in the number two spot early in the day energy was in the number one spot so it's again one of those days when we see things strong certain things strong in the morning and we see this this movement all around there's probably some confusion going on out there in the markets and we might want to be a little bit careful okay let's look at some let's manage some trades let's pop over here and look at our uh active trading uh portfolio uh which is still having a fairly good day but i want to talk about some some of these stocks that we've had that that we may want to consider here is uh we've got an alert on ads this is one that was purchased uh in this class uh on the 16th of uh i think it was this class the 16th of february ads and pop in here let's take a look at um ads i'm going to put in a different study first i'm going to put in a different style so we can look at a white chart versus a gray chart great charts work better on the big screen and then we'll put in the study we're going to look at some of those volumes we've been using but i'm going to use wave volume and the by volume as well as an rsi today so so here's the question depending on your uh your methods if you are a longer term position then you probably would hold this we bought this on the 16th of february as this started to pop out above this resistance level it popped out above this resistance level better than uh 50 average volume the it was mostly up volume for the day about 80 percent up volume as we can see the red indications down here for down green indications for up very similar to what we look at with the conviction indicator on the spx the new york stock exchange up down volume that's what you're looking at here and we can see as it started to move into this zone or this sideways action up in here and this is one of the things we haven't talked about for a while but this is one of the things we need to talk about right now because this is going to help make those decisions on whether or not you want to continue on with this if you want to pair back some of your gains so what i'm going to do here is i am going to draw a channel line and i'm going to use this these two indications down here this big volume right there and the wave volume lots of upside volume biggest when we talk about uh closing higher for the day we look at this across the landscape over here that's the most buying volume we've seen in a while aggregated putting it together each up up a day brought in a higher a higher day which give us a consideration for a more up volume so when we look at that we're going to consider that to be somewhat climactic when we look at this big volume here note where it's coming from so if we're if we're looking at the markets up against resistance and we have stocks that are moving up against resistance and then we're getting some kind of big volume even though that is a a lot of up volume notice what started happening so we have this climactic run this clock price climax uh buying climax excuse me into this zone up in here and then uh a pullback down to where we have our support let me pop this in here and i'm going to run this back over these highs here and so we can get an idea of how what is the strength right now the underlying strength of ads that we own is coming and holding along this midpoint of this channel what do we know about midpoints those are pretty strong support and i'm just reading some of the chats here okay um all right so apparently there's a commercial going on for james boyd in any event this is uh some support in here as we watch this uh coming on to the upper or coming onto this upward pointing 20 period exponential moving average so the question is do you want to exit out right now take your take some profits get back in if it bounces if you're longer term you probably should consider holding on to this we're looking for this to bounce we're looking for this trend to continue the long-term trend is up the shorter term trend is up and uh price is intermediate time frame short term to intermediate time getting into the intermediate time frame is a sideways here so let's uh look at uh pairing some of this back we own 50 shares this was put on uh with the intention of a of a run in reality if you're managing these the areas to exit was on these big volume pushes after an uptrend right why do we look at that after an uptrend big volume coming in uh after the stock has been in an uptrend for a while oftentimes is kind of the the last bastion the laggards getting in and there might be some selling that comes along sneaky selling that's coming along inside of uh of that action so what we're going to do here is we're going to pop over here we're going to close our stop loss because we're going to just go ahead and take profits uh on this and this would be for active traders uh active traders we're just going to close this out and we will continue to watch this if you have something like this and it's on your watch list there's no reason for you to uh to run away and just leave it alone and never look at it again if it starts to make those active trader moves that we look at then what we want to do is have a defined area where we will be willing to buy this again and it may be on a breakout it could be on a dip back down into these uh this these lower uh support areas in here which hopefully we'll be able to talk about a little bit later okay so let's collapse this here let's look at applied materials as well this is one uh that we put on uh back just a few weeks ago on the 16th is it a few weeks ago yeah getting close to a few weeks ago let's put look at applied materials and uh let's kind of survey the situation we have um two stops in here we have a stop i moved this stop up uh earlier today to sell our position if it drops below the gap up low from yesterday now we have a target and this is something to think about we have a target of uh to sell our shares up here at 1 at the 150 area now it may or may not make it to that so here's a question that you have to you have to consider we got in on this we got in this trade on the 16th right back here on this where this dot is and we went through some some pullbacks some bounces and as we saw this start to break out on really big volume again the difference between this and what we just looked at with the ads the big volume pop to the upside after a sideways movement also all often times will turn into some kind of a trend after a bit of a consolidation a two-day consolidation in amat and then it ran so here's the question uh if we got in over here on this day and it um on that orange dot there and it and we expected it to get from to go from there to here uh about thirty one dollars okay it's about thirty one dollars let's go back over to the monitor tab here and our trade price was uh 20 dollars and 60 cents is trading at 143 right now so here's the question if you have if you were expecting uh thirty one dollar a thirty one dollar gain somewhere in that area thirty dollar gain let's say and uh right now it's up about uh what is that about uh twenty three dollars so what percentage of that gain 23 divided by 30. so you're at about a 76 percent profit on this if you're willing to let this pull back and give up what and this isn't necessarily a uh it's not necessarily a short shorter term trade but if it's a trend trade yeah you're gonna you're gonna let it move around a little bit but if this is an active trade like when we put this on we're probably gonna say well look we're we've just had 76 percent right now we're sitting around seventy percent six percent of our target gain why would we not take that profit instead of trying to hold on for the possibility of price getting up into that 150 area one of the things i want you to understand is there something we call uh there's something we call anticipation of the anticipators or yeah anticipation of the anticipators so people anticipate price moving up into this area like we did and this and and other people know that and so they may sell into this right with this big volume in here it's indicative a possibility this is going to keep running but right now it's pulling back on a shorter term trade anticipation that's going to hit some kind of resistance area is coming in or anticipation that the market may pull back seeing price come in so we're going to go ahead and we're going to close that out to the upside again this would be for the active trading side of what we uh of what we do and not the long term trend trade so if you if you're if you can make uh another in this case say another seven dollars how much of that twenty three dollars how much that's 76 percent are you willing to give up to see if you can make that uh that little bit so you got to be a little bit careful that it's probably better to sell as it's moving up where we're selling is it's pulling back uh today but that's okay just managing those positions and we'll sell those 66 shares we'll send send that off now uh those are the only ones we're going to look at so far today because we've got some other things we want to consider and that is uh you know what do we do when when the markets are running up against resistance well we can manage our our positions expecting some possible pullback we can look for new positions things that uh search for stocks that could be bouncing search for stocks that may have had a nice run like applied materials and let's get rid of that so we don't go short that applied materials looking for some kind of a relaxation right so how do we find that relaxation prices move up they move down they move sideways in this case for the shorter term trend we look at it move up we look for some kind of sideways or downward movement and then a rally back up so we're going to look for stocks that might be getting ready to pull back he says if the market decides it wants to pause here for whatever reason then a lot of stocks are going to have a tendency to pull back so let's go over here to the scan tab and uh let's uh put in our i'm going to show you this other scan i've got going here in a second here we're just going to put in our rsi scan of greater than 55 less than 65 greater than 55 less than 65 and this is something uh you can also put together i've also got the bsr this is also our bsr let me uh as a matter of fact let's go ahead and clear this out reset this whole thing so i can show you how this works and then i'm going to come up here now for a lot of you you've seen this before but we're going to load this in this is the looking for a in the personal box because we built this looking for the buy and sell ratio to be strong and the rsi the stock momentum to be strong so i'm going to pop that in there and then we can run a scan this scan alone will probably find stocks that are having some strong momentum so let's just run this by itself and let's just take a look at the strongest ones we can also use to hold here we'll just look at the strongest ones for today and just take a quick look so here's an industrial stock why would that be important that would be important because if they do get some kind of decision made in the government about rebuilding roads and bridges and those types of things then industrial stocks may have a strong pop here so chpt and we can see this one momentum is picking up big volume coming off of the coming off the lows here so this might actually fall into a little bit of a different scenario this might fall into those the other search let me pop back out here uh to the slides this actually might fall into the search looking for low bounces stocks bouncing up from support that are in line with maybe some changes that may be going on out there in the marketplace in in other words perhaps the industrials will continue to move forward this has also got another there's another implication here with chargepoint because chargepoint is also does anybody know what chargepoint does charge point is part of the i do believe part of that renewable energy in other words charging stations those types of things i think is what it does so we're going to pop over here to the analyze tab put in uh no we're not going to look at the uh i'm not going to look at the analyze tab uh or the risk profile excuse me network electric vehicle charging system so that's part of the the idea out there whatever your beliefs are you know if you didn't know what this was and you're looking at this from a straight technical aspect if they do if it does start to pop to the upside this might be something to consider so let's look at what's going on here and why this might uh might be this might be something in lieu of trying to chase stocks that have already been really strong in in sectors that have already been really strong maybe we look at the ones that have have taken a bit of a beating and then have found support at the 200 period moving average moving above the 20 period exponential moving average strong buying volume coming off of these coming off the 200-day moving average two days in a row and then of course we saw some pretty good selling we can see here the wave volume and the wave volume for those that are are curious let me pop this down here and i'm going to uh click on this and i will share this in the chats i'm going to share this in the chat box so for those asking about where do you find this you can find it on my twitter page or you can find it in the chat right now so look in the chat box for those that uh are on the archives you're not going to be able to see this so just go to my twitter page wave volume go to my twitter page and you'll find that there as well so the point here is that if you're looking out into the future and you're saying hey you know these uh these charging stations may be building some strength in here perhaps this might be one you could consider another one that popped up in this group as well earlier today is right here you can see down here i ran this this screen the scan earlier one of the things about this scan let me show you here in a minute oftentimes may be better to run it towards the end of the day but it still pulls up things blink is another one so blink is another charging station and we can see that is looking very similar we've got a nice long consolidation pattern let's pop this into a three year weekly chart to get an another idea of what's going on here some strong selling coming in towards the uh in fact at the end of uh or at the beginning of february excuse me and then buying coming in at the end of february the beginning of march and we saw this really strong upward volume on this week and that's what we want to look for on the weekly chart when we're looking at things that are bottoming and we want to look at we want to see if when they bottom we're seeing strong buying in the case of the buy volume here strong upside volume as well let's look at charter or chart charge point whatever it's called and we can see the same thing occurring here last week huge volume buyers coming in and that might be continuing on forward so this is some of the things that when we're when we're faced with the markets pushing uh through the and up to resistance some of them not all of them and we know there might be some changes in how people are deciding when i say people how the fund managers and other pension fund managers and those type things are deciding what they're going to buy they may be out of these big growth names coming into the value names quote unquote value names and that is something uh to definitely consider here so what i want to do is pop this up and let me put my twitter page up here maybe sign in perhaps nope and first of all on my twitter page what bar was alluding to is right here on the profile if you just go to pat or at p malali underscore uh tda right here at p malay underscore tda you can click on here and get a number of different types of scripts i don't have the buy volume or the bsr script in there yet i've got to do some massaging but here's what i wanted to talk about one of the things i wanted to talk about what we're about to talk about that i put out there posted out there this weekend and that is that the total return for the for growth over the years has uh has outperformed value since 2007.

however we may be seeing value that would be as you see right in here financials industrials materials and energy start to overtake those growth names doesn't mean it'll last for long it but we'll we'll certainly see and that seems to be some of the things we're seeing out there in the market so when we think about checkpoint when we think about uh uh we think about those kind of renewables or we think about bridge builders uh energy uh energy companies engineering companies got my ease mixed up there then this might be something uh to consider now do you just go right in there and buy it today or do you wait till it moves above is high that's up to you but when we start to really take a look start to do our homework i want you to notice a few things here i'm going to draw a line under here at these lows this is where this is where we oftentimes miss miss some things and so when we look at this low when we're short-term long-term trade whatever when we look at that low right there what kind of a candlestick pattern is that what we call what do we call that just that single candlestick and what does it mean psychologically for the market psychologically for the market that means that the bulls took over that day if we look at the volume the up volume was all almost all up volume above 90 of that volume for the day was up that means most of the things that most of the trades that happened happened on the uptick not on the downtick so that was a bullish sign and then of course it rallied through and then we rechecked how often do you see price come in and recheck uh the old lows and notice it's also breaking back above and holding above that 200-day moving average bottom tail hammer excellent and then we get this kind of this ah anyone you want to call it a morning star that's an unidealized morning star pattern but then we get this inverted hammer now things change all the time inverted hammers at one point at support had a uh had a significant probability in the 60 range that they would be some kind of a reversal and in this case that worked out as we saw this reversal and then the next few days we finally saw four days ago big volume price moving to the upside followed by that gap now i want you to notice the midpoint here when we pushed above that midpoint that could bend your your first or second buy now we're looking at price up against resistance what happens at resistance what we call resistance we call it supply the question becomes is there supply coming in here so you may want to wait until price pushes back above uh this zone or this you know this zone but the resistance the supply line and yesterday's high you can put in a stop order to do that if you were looking at say blink you could do something similar with blink okay now these are just what we just we just pulled up there was no i don't have anything up my sleeve there was no pretense uh about why i was looking at these but this looks maybe a little bit more it doesn't look as strong as far as the volume goes from a price action though it certainly looks like an ascending kind of this an ascending higher low type of a situation where we're getting a bit of a ascending triangle kind of a wedge but strong push to the upside uh today as well now if we go back to the scan here and let me share this scan there's a request to share the scan in here so i'm going to do that and that will be down in the chats as well you can just put that in your open open your uh up here in the setup open shared item and put that in right in there put the link in there preview it give it a name and import it and that'll help you out there so that's that's once again another scanner with the amount of time we have left is interestingly enough the top the top one we looked at was what i'm going to try to build a scan for right now and that is changing this rsi scan i'm going to leave bsr in there because we want to see some some long range days we want to see the buying selling ratio to be strong and what i'm going to do is i'm going to change this to 30 so we're going to look at an rsi 14 greater than 30 so just use that scan link that i put in there to put that in in your platform and then we're going to higher than 30 but less than say 55 okay so what that's telling us is we're getting a little bit of momentum maybe it's bouncing off the bottom and another thing you can do and this is where actually the end of the day comes in so listen up here the end of the day comes in i'm going to add a filter up in here and that filter is going to be a volume filter so i'm just going to hit add filter study and once i do that you're going to see this pop down in here and it's going to default to adx crossover we're going to slide down to volume and you can use this on all things and i just have this set you're going to change this so it's what it says we're looking for unusual volume unusual volume it's increasing it's at least 20 percent above the average volume over the last 50 days that matches the the volumes that we look at on the charts so i'm going to i'm going to go ahead and click scan here so what are we doing we want to see it bouncing up coming out of oversold but still below 55 catching some upward momentum and getting some strong volume remember we just looked at checkpoint in in in and blink and when we look at checkpoint did we have strong volume yeah that's what we're looking for no guarantees on how it's going to pan out in the middle of the day you usually don't get we usually don't get a ton of a ton of stocks that pop up so that's why i say oftentimes at the end of the day you might want to look at this and then here's some names that might be familiar recently vips viacom um let's see if we can look at vic fitch we can look at i so pop over here to uh we'll look type in e y e and there you go so it's coming off these lows do the same thing this is national vision holdings and we can just do all of the same taking the same decision making process big up volume today better than 50 aggregated volume over the last three days is strong over the last three days best buying volume we've seen since the middle of last month is it finding support it's finding support at the moving average and this is something it's moving also moving above the 20 period exponential that's often an exponential moving average we look at oftentimes as technicians as a better average to define turning points not as great an average for support necessarily it can work as support but it's it's faster moving so better for turning points which brings up another thing friday i'm going to redo because of all the technical issues we had a couple of weeks ago with the whole macd we're going to look at the whole macd again on friday and the advanced uh charting on friday at 12 o'clock excuse me at two o'clock eastern time so this meets the parameters let's do a little bit more let's take a look at price and i'm going to pop this channel up in here and let's kind of review what we're seeing happening so price sold off and this is why i choose this point because it dropped it gapped down it gapped down on big volume and then it rallied right out of there rallied out to the upside up in here sold off again on big volume okay so we have a big volume sell-off and get a trend line here big volume sell-off here so we have that the correct when i say correct volume price structure okay volume price structure and why is this important because when we don't want ambiguous volume we want it to tell us something and so when we have down days if it's selling we want to see up volume we don't want to see down days on and pulling back on small volume that's kind of ambiguous or up days that are going up on small volume it's a big a bit ambiguous but their herein lies are ed or or the possibility the probabilities that there may be something else going underneath happening underneath and that is with these these big sell-offs here and here price just couldn't quite go any lower and that is where the dogs aren't barking the hounds of the baskerville aren't making any noise it's an inside job right it's an inside job because what happened on this day big volume big volume up day and then it rode along here until we got another big volume update today we are passing that midpoint on ey e so if we're looking for things to trade can we look for things that are bouncing up oops bouncing up from support 200-day moving average breaking the midpoint of the channel it's been in and breaking the downtrend line so this gives you a lot of uh reason let's say a lot of support a lot of information that says there could be some strength coming into ey e we look back at the the scan again and uh quickly look at say fitch and viacom so here's fitch still struggling that's underneath its 20 period moving average again that big when we when we do this scan let me go back let me back up just a little bit when we do this scan where we're looking at uh the 30 looking at the level of 30 on the rsi we're looking for price to be moving off of that but still below the 55 right that's what we're looking at but oftentimes what we might find and this is important is this psychological hammer right that psychological hammer where buyers are coming in exhausting out the sellers people are willing to say at that area that that is a point of uh excuse me a point of demand and they start to buy that back up today getting some pretty good demand the difference here with with this one and what we just looked at a minute ago is it's still underneath that 20 period moving average still in a downtrend this might be one of those that you wait for another one of course that's been in the news was viacom and those other ones that uh took a big hit when the uh the hedge fund went out of business four point four and a half billion dollars whatever it was largest uh loss in history so far so so far because you never know what's coming around the corner but we might be seeing some similarities with the price coming into that 200 period moving average and bouncing you there could be a reason that you sell some puts do some kind of risk defined risk type of an option trade perhaps so those are the ideas behind these searches what do we do when price when the market is moving up against resistance well we either we manage our positions if we've been in things that have been rocking with the rest of the market they may be getting ready to pull back another one's other ones we can look at that fall under the original scan would be which i'm going to pop up here i'm going to close this one out and then i'm going to re-load the original bsr 55 65 scan and pop this in you can see yeti down in here consumer discretionary was pretty is number two for the day yeti getting really strong volume to the upside it has it's been moving up along with the rest of the market but it hasn't it's sitting here at these resistance levels over in uh for this sense excuse me since uh february midpoint of february if i can get this to zero so we're seeing that breakout big volume there's yeti uh fhrc this had the break a couple of breaks the other day here's that again the thing that scares people out big volume hammer day right let's look at this that was a lot of buying going on in there and so far it's held that 20 period moving average two days ago breaking above that relaxing some that was a big volume push to the upside what do we know when things start to break to the upside in big volume they could relax so this might be another one you can consider again these came from those scans but the reason we ran those scans and what we're looking for are what we saw in the original agenda what do we do when the indices are reaching resistance what do we do when the the markets are maybe getting a little bit ahead of themselves let's look at those markets let's manage our existing positions maybe take off half positions maybe take off all the position depending on whether it's a longer term uh trend trade or a shorter term trade if you have 70 80 percent of your gain how much of that are you willing to give back to get a another 10 percent let's say maybe you should start pairing those back when the market's up at resistance and then look for stocks that are at resistance and wait for those pullbacks just sit and wait those you the way we can do that is with the kaholt kablod method those though the let me pop this back up looking for stocks that have uh like looking for stocks that have been pulling back like lkq let's say our leg let's look at leg rallying a bit of a pullback look for those to bounce look for the stocks look for stocks that are coming off of low bounces stocks that have been beaten up but stocks that match the what the market is possibly telling us for the future what is strong what indications are we getting that it's going to be tech stocks what indications are we getting that it's going to be industrial stocks or material stocks or any of those things find those stocks and then look for those good entry points but look underneath find the ones that are showing demand find the ones that are breaking to the upside bouncing up off of those long-term moving averages breaking through those short-term moving averages finding no resistance whatsoever when it gets to those areas where we typically see supply so with that i'm going to pop on out i want everybody to realize that if there is a survey please fill out the survey give us your comments we use those comments uh tomorrow i'm going to be doing the technically speaking technical analysis and options we'll probably look at some more of this stuff friday in in technical and technically speaking and advanced charting we're going to go back over the whole macd and the stochastic that i have there because there was the a lot of technical problems a couple of fridays ago so we'll get back into that and see what we can find there so with that remember everything we're doing here is for educational purposes only and you are the one that is responsible for the decisions you make in your self-directed account if you like what you saw today please give us a thumbs up make sure you subscribe subscribe subscribe to the youtube channel because it makes it a lot easier to find all the great uh content that we have on there and as well share this with somebody that you think can benefit from it re-watch it these are archived if you're new these are archives re-watch this take notes find what you can that you like from this and use it with that i want to thank barb and everybody else for all your interaction and your faithfulness we really love that and remember again everything we're doing here is for educational purposes take care everyone [Music] you

2021-04-12 00:26

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