WEEKLY MARKET REPORT
By Moksh Rajput
Friday October 5, 2018
The market fell quite a bit this week. I am thinking that the stock market has topped as well as real estate. Interest rates and cryptocurrencies have bottomed out.
I have not had much time this week to find and scout stocks. I am just tracking my positions from the last couple of weeks.
I do see uranium stocks and etfs being very bullish right now. CCJ was a big winner last week with almost 18% gain. Most of the uranium stocks I am looking like are looking bullish, not with a set pattern as of now, but as a bottom. This bottom will lead to at least one year of a bullish trend for uranium.
Just two new stocks and one index added this week to the watch list…
Looking at the Nasdaw 100 Index, $NDX, it looks like it has topped. My 2W RSI signal is giving me a very bearish outlook. It has to drop to $6892 from its current levels $7399. This is the perfect time to short Nasdaq.
FNJN, Finijan is a short term buy. It has broken out of the symmetrical triangle at $4.50. Its safer target is $5.24 and classic target is $5.53. With a stop loss at $4.19. Don’t hold after it reaches the target it is a garbage stock.
USM or United States Cellular Corp is quite a beuty. On the daily it has a nice acending trinangel and has already broke out of it. But the spectacular thing is the monthly. It has a nice wedge formation and is looking to break out of that. If the monthly closes above $48, this will lead to a new bull trend for USM.
