What follows are the topics covered in this weekend's note to subscribers. To become a client of Zenolytics Turning Points or to learn more click here.
What follows is an excerpt from this weekend's 178th Edition of Zenolytics Turning Points:
MARKET UPDATE
Another round of fiscal stimulus, with a likely consumer focused stimulus check component attached, is on the verge of passing. In the meantime, the important market averages are all consolidating ABOVE a key area of resistance that has now turned into support.
These types of tight wound consolidations above key resistance levels that have become support are high percentage areas to take on leveraged long exposure, as we have done.
There are other advantages, as well. Primarily from a risk control standpoint, knowing exactly where the market should not go, is a rarely discussed yet extremely valuable tool to possess.
In this case specifically, we know exactly where the markets should not go moving forward, giving us an extremely well structured framework from which to take on leveraged long exposure.
While it may not be en vogue to discuss risk in the current market environment, instead opting to simply pull your pants down and let it fly, the goal of investment is to preserve capital while taking well calculated, aggressive risk.
In other words, the approach here will always take into account what our downside might be and from there we build the framework of our current approach to the market, along with the allocations necessary to take advantage.
Now onto some charts to illustrate exactly where the market should not go from here....
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