MFG STATE OF THE MARKET 7-21-24
We saw a rotation out of technology stocks into industrials this past week. The Dow Jones (DIA) hit a new all-time high and banged an extreme-high RSI along with Gold (GLD). I trimmed half my futures GLD contracts.
The S&P 500 (SPY) may be rolling over into a possible stage 4 decline along with the Nasdaq (QQQ) that's in a confirmed stage 4 decline. I'm watching tech stocks and their leveraged funds closely here.
The breakout in Bonds (TLT) has lost its momentum, but is still trading above its 200-day SMA. Oil (USO) is also in a confirmed stage 4 decline.
Bitcoin (BTC) and Bitcoin Cash (BCH) are in beautiful stage 2 uptrends. Be patient and stay in flow.
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Last week was a great week for the MFG portfolio!
I closed my 2x leveraged crude oil trade UCO for a nice gain and took profits in AAPX, CUBE, DRN, and 3x leveraged regional banks trade DPST, one of the infamous plays of the MFG.
I also put on a futures contract in BCH through Coinbase. We saw a beautiful breakout move in SBUX and GILD completed its B&B trade!
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This week, I'm keeping a close eye on QQQ/TQQQ, SPY/UPRO, USO, OILU, CRWD, AMZN, GOOG, FCX, ETRN, PNNT, FDUS, USA, UBER, LYFT, AIR, AI, RDDT, SNAP, and extreme-yield funds YMAG, QQQY, JEPY, AMDY, FBY, and AMZY.
I'm looking to accumulate shares of WBA, ALB, MRNA, DAL, NKE, DASH, ABNB, SNOW, and extreme-yield funds MRNY, SNOY, CRSH, KLIP, ABNY, ULTY, and DISO.
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Always remain bullish and follow The Money Flow.
The Peters Report - Stock & Crypto Trader’s Resource
-GP a.k.a Fullauto11 🧙🐼
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The Peters Report - Stock & Crypto Trader’s Resource
Trade ideas this week: UTSL, SNOW, MRNA, DAL, ABNB, OILU
B&B trade ideas: WBA, NKE
I’m watching CELH here. It’s in a demand zone, but it’s not quite set up yet. You could add to MCD and SBUX on any weakness.
[See trade idea SNOW chart below. True value is $187.]
[See trade idea DAL chart below. True value is $40.]
Crypto trade ideas: CLSK, BITX, CONL
Dividend ideas (watching): USA, WBA, ALB, ETRN, SCHW, PNNT, FDUS
Top yielders I’m watching closely: KLIP, SNOY, ABNY, AMDY, FBY, MRNY, CRSH
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As always, MFG- do your fucking homework! If you need help with getting started on your homework watch this video above and read my latest article about my step by step guide to completing your Money Flow Playbook! No more excuses!!
Always remember, whatever you think about comes about, whatever you focus on grows. - GP
Looking for a group of likeminded people to trade with? Text alerts and the MFG Discord. Text GP 1-936-661-7786 or email GP fullauto11@gmail.com to join.
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The Peters Report looks so clean on this platform! Thank you for all you do!
Thanks GP!