We saw multiple squeezes form last week as the major indices maintained their solid structure. The big mover last week was the financial sector (XLF) as it built up energy the last few months and finally made a big move into the +2 average true range (ATR) on both the daily and weekly charts. We took advantage of the hourly, daily, and weekly squeezes in Goldman Sachs (GS) in the Compounding Growth Mastery and bought back our put credit spread for 45% of max profit. There is potential for continuation higher, but we will be waiting for a pullback before making our next move.
The Industrial sector (XLI) is also printing a mix of squeezes on the daily, 3-day, and weekly charts. As long as we hold this structure into September and October we could see prices move higher.
Semiconductors (SMH) have a beautiful daily, 3-day, and weekly squeeze firing long. Wait for a move to the +2 average true range (ATR) and buy the dip before adding more exposure.
Technology (NQ) has a bullish daily squeeze with a positive histogram and brand new 4-hour squeeze. Look for the squeeze to ultimately fire long and push technology stocks higher.
Watch the video above for a full update on our current open positions and where to buy the dips and add to your positions. Industrials, financials, technology, and semiconductors are all good-looking pockets in the market. As long as the daily squeezes in the indexes hold structure, look for them to fire to the upside.
Stay Focused!