Week of: 12/20/21 – 12/24/21
The World Wealth Gauge is showing us bearish readings this week with institutional money flowing from small caps to midcaps. This means institutions are looking for safety in the market. The fear gauge is also showing a risk off signal, indicating a spike up in volatility.
And with this cautious indications from the markets, I have two favorite trades for this week.
The first is the same NZDUSD trade we saw last time.
I’m looking to buy on a break above 0.6834, and on the lower side I am looking to buy it at 0.6650.
My target is 0.7000 with a stop set at 0.6510.
My second trade this week is the SPY and I spoke about it to my students in the Equities On Demand trading room.
I see two ways in which we can have this trade…
If it breaks above 471 – buy to 500 levels; and if it breaks below 451 – sell to 420 levels. We will have to wait for a while to see which direction this trade pans out in.
Check out this week’s top picks video for all the strategy details.
And have a Merry Christmas! 😊
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