October 23, 2022

Fuel in the form of a Fed official saying it might be time to consider a slower pace of rate hikes sent stocks sharply higher Friday. The broad market kept pace with the S&P 500, a plus.

The day's action was just enough to allow the Nasdaq to poke its head above the 20 ema. .

The two leadership sectors are energy and healthcare. The charts below show upward sloping relative strength lines at or near their highs.

Unfortunately, at the moment there are no real pattern setups in energy and healthcare - or elsewhere - worthy of our precious capital. There is nothing on the Focus List.

Should this rally in the averages have legs, we may be given the opportunity to enter a leveraged ETF via a pullback entry.

In the meantime, cash makes the most sense.

Kevin Marder

Trading Lessons
Introduction to the service (38:00)
Money management and risk management (20:27)
Bread and butter pullback (11:10)
Bread and butter pullback: Pt II (15:09)
Bread and butter pullback: Pt III (31:48)
Bread and butter pullback: Pt IV (30:16)
Bread and butter pullback: Pt V (1:41)
System R
Short-selling (25:53)
Wyckoff spring reversal (2:30) 
5-minute breakup test (8:01)
Screens (21:03)