"Forget your pride and ego; the market doesn't care what you think or want. No matter how smart you think you are, the market is always smarter." - William J. O'Neil

MOVING AVERAGE LINES USED

REDLINE = 50 DAY MOVING AVERAGE

GREENLINE = 10 DAY MOVING AVERAGE

PINKLINE = 21 DAY MOVING AVERAGE

BLACK LINE = 200 DAY MOVING AVERAGE

NASDAQ: This index managed to erase most of Monday's plunge after getting support at the 200-day moving average. The tech-heavy index now holds a gain of 11.6% for the year so far. I expect that we can get another leg down which will be our third leg, and if that happens it's better to stay on the sidelines until we get a follow-through day.

S&P500 INDEX: The index notched a 0.5% gain on Friday and ended the week virtually flat, though nominally lower. The index has yet to test the 200-day line but remains about 2% below the key 50-day moving average. It holds a gain of 12% for 2024. it's likely this index also may have the third leg down to make three wave correction.

CAVA: This stock had a nice move on Friday with an above-average volume. the company has good accelerating earnings and sales plus positive future earnings expectations. I missed the early entry slightly above the down trendline, will look for an entry when it crosses the redline.

TTD: This stock had a great move on Friday with the highest volume above average. Despite not having good sales and earnings in the last two quarters the current sales and earnings are showing improvement that’s why we see the accumulation on the right side of the chart. will start a position when it crosses the 102 mark.

PLTR: This stock plunged on Monday but reversed during the end of the day and finished the week at a nearly all-time high. the stock has the best accelerating earnings and sales plus positive future expectations. will start a position when we will get the pullback to 21 or 50-day moving average.

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HTML FIVE TRADING RULES

1. Buy the stock as it breaks above base or trendline on above-average volume 

2. Sell -4% to 7% from buy point,intra-day

3. Take gains 20-30% above buying point

4. Use trailing stop loss to protect your gains

5. If you have three straight failures -4% to 7%, stop buying and do post analysis

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