Sunday Night Weekly Recap, July 28, 2024

If Optimism and Enthusiasm are to drive the markets back higher now would be a good start. Investors are breathing sighs of relief with the finish we had on Friday. Combine that with the talk of interest rates being lowered in September and there’s something to cheer about.

We had a good week this past week with the stocks on our Watch List here at investingwithfaith.com Fresh trends are something we relish here and as I wrote on Friday we now added MMM to see if this is the start of that or if a pullback will occur first.

These are some of the stocks that were on our list and how they closed for the week. GE +6.71% ML +6.31% HEI 5.59% TEL 3.80% IJR +3.53% FI +2.45% DHI +1.79%

As I shared on Thursday it was a decent day here with Options on GE. Small position but I re-entered on Friday and am already showing some good green. Right now I’m playing it as a day trader and as a swing position both. Not all Options prices are created equal. GE has some incredible Premiums at the moment that are hard to come by.

A new one that showed up tonight is SPHB. This is a beautiful chart. Look at the length of that base. We all know that saying “The longer the base the higher to space!!!”… If you look at the Volume in the bottom right corner you can see a strong increase. Also look up at the top right corner, it did a retest back to it’s box or Resistance line and is bouncing off of that area now. Hence the old adage “Old Resistance becomes new Support” Don’t be surprised if you hear more about this one soon.

As always on Sunday night we show the Heat Maps from the past week, the past 4 weeks and the past 12 weeks listed in this order. If you like this content please share it with a friend.

Invest wisely, live charitably and be well

Brother Bill