HGSI Doc Top Down Review 5.13.2016

Greetings and welcome to my weekend review for the trading week ending 5.13.2016.

This was another choppy week as the indices failed to move higher. EPS season is nearing the end and for many it has been brutal. Unless your ticker was AMZN, there were plenty of opportunities to remind us why holding stocks over EPS dates can be dangerous to your account.

Last week I called for a bounce and we got a strong one on Tuesday. Unfortunately that appears to have been a trap as we quickly retraced those gains and closed lower on the week.

Now we sit on an area of support that has held several times since the market peaked last summer. The indices look tired and a failure here may make the Sell in May believers happy as the 200 day SMA looms a fair way below for support on the SP500.

Join me on my Top Down Review where we find few stocks in great bullish setups. I also have both a BULL and a BEAR setup for the Chart of the Week.

Please email me if you are interested in my September 23 event.

Jeffrey – hgsidoc@gmail.com