MY JOURNAL FOR THURSDAY – September 1, 2022
NEWS, BREAKOUTS, MOMENTUM PLAYS & BOTTOMS
Fork In The Road | Greg Schnell, CMT | Market Buzz (08.31.22)
As dire as the world sounds, there are some global charts that could be on the cusp of breaking out to the upside. The global narrative is bearish, and the economy may still be headed for a tough landing. However, stock markets bottom long before the economic activity bottoms and investors start to sense a potential recovery well in advance. While I am still expecting lower, I need to respect that the price action of some charts are close to breaking out to the bullish side. Which road will the market take? I want to follow the winners!
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
ATD.TO – Alimentation Couche-Tard, Inc.
GFL.TO – GFL Environmental Inc
INE.TO – Innergex Renewable Energy Inc.
QSR.TO – Restaurant Brands International Inc.
RBA.TO – Ritchie Bros. Auctioneers Inc.
TFII.TO – TFI International 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.
Let Us Do Your Homework (With Full Website Access):
- Weekly GregSchnell newsletter that will feature his top ten charts of the week.
- Weekly GregSchnell video which summarizes the major moves in the global markets.
- Vital GregSchnell that can be quickly look through with his top 30 charts at any given time.
- GregSchnell Monthly conference call that is recorded and saved.
- The Daily Setup watchlist of stocks that are signaling the potential of upside momentum.
- The daily SetYourStop blog (News, Breakouts, Momentum Plays and Bottoms).
- The SetYourStop Workspace.
- Much more!
THIS IS NOT A STOCK PICKING SERVICE. THE WORKSPACE HAS BECOME MORE LIKE A COFFEE SHOP OF CLOSE FRIENDS SHARING IDEAS.
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Definition: Systematic trading (also known as mechanical trading) is a way of defining trade goals, risk controls and rules that can make trading decisions in a methodical way.
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