October 30, 2022

With market participants firmly back in the camp of giving the Fed the benefit of the doubt, stocks staged a strong rally Friday.

The move was broad, and was led by technology. 

Murphy Oil USA (MUSA) and TQQQ were Friday's Focus List ideas, and both performed well after triggering.

Archer Daniels Midland (ADM) is idling after triggering Thursday.

I tweeted that it was likely this advance would continue due to:

1) the broad market outperforming the blue-chip indices on both up and down days.

2) the emerging leaders that came out when the market was still falling are up on down days in the averages, e.g. Sigma Lithium (SGML) and Harmonic (HLIT), and

3) stocks waiting on earnings are coming out of bases anyway, e.g.  Comfort Systems (FIX), Valaris (VAL), and Constellation Energy Group (CEG).

This sort of micro analysis of the leadership can be an important tool in the general market analysis of a speculator.

Otherwise, there are no pattern setups and the Focus List is empty.

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)