MY JOURNAL FOR WEDNESDAY – NOVEMBER 2, 2022
NEWS, BREAKOUTS, MOMENTUM PLAYS & BOTTOMS
Industrials And X’s | Greg Schnell, CMT | Market Buzz (11.02.22)
The market rally continues and a few sectors have taken the lead in performance. Industrials is one of the leading sectors so far. Greg shows how to download the stocks in the industrials group and sort it by overall strength, or sort it by industry group and have a strength sort within that. As a little extra component, Greg covers off some ETF’s with X’s in them and why he thinks they are an important support if the industrials are to continue to rally.
Welcome to Osprey Strategic
Nearly a Decade of Experience in the Financial Markets
Greg Schnell, CMT, MFTA, is a Senior Technical Analyst at StockCharts.com specializing in intermarket and commodities analysis. He is also the co-author of Stock Charts For Dummies (Wiley, 2018). Based in Calgary, Greg is a board member of the Canadian Society of Technical Analysts (CSTA) and recent winner of the CSTA’s Technical Analyst of the Year. He is an active member of both the CMT Association and the International Federation of Technical Analysts.
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BREAKOUTS, MOMENTUM PLAYS, & BOTTOMS
AAV.TO – Advantage Energy Ltd.
BYD.TO – Boyd Group Income Fund
DCM.TO – DATA Communications Management Corp
LTH.V – Lithium Ionic Corp.
PSI.TO – Pason Systems, Inc.
SXP.TO – Supremex Inc.
MOMENTUM ALERT SIGNALS
The main focus of the SetYourStop Slack workspace is the momentum scanner that was developed to trace abnormal volatility in the Canadian equity market.
Our proprietary momentum scan system searches for abnormal volatility which flags the urgency of buyers. It was designed to signal the potential of momentum coming into an underlying name or sector. The charts issued are to be used as indicators only, not a trigger to buy or sell.– Disclaimer
Once a chart is received, systematic rules are to be used, implemented by the individual (SetYourStop nor ospreystrategic.org holds No Responsibility for one’s actions as the charts given on SetYourStop and ospreystrategic.org are to be used as indicators only and not a trigger to buy or sell) to define and manage risk. Stop-loss orders are an important tool to negate any false signal. The goal is to let winners run while using trailing stop-loss orders to preserve gains.
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