20 Aug, 2018

Trade Plan for week of 8/20/2018

The markets look to be very close to all time highs this week so watch to see if we break through. Good volume came in towards the end of last week, so I’m cautiously optimistic that we will get a green week. The high for the S&P is about 2873 so watch that spot.

Healthcare was in a breakout last week and I expect the trend to continue. I like Community Health Services (CYH) if it gets above $3.47. If it breaks this level, watch the volume. Increasing buying volume generally indicates strength. Since $3.47 is a sticky area, I’ll wait until 5-10 cents above that before buying to avoid getting caught as it turns around.

I also really like the defense and aerospace ETF, symbol ‘ITA’. It is near recent highs and looks strong if it breaks $206.58. This is a safer trade but is unlikely to give us 5% in a week.

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