Hello,

Again, our apologies for this week’s health-related issues.

Here’s a link to today’s recorded webinar:
http://www.tractiontech.com/08/market-traction-analysis-8-1/

As we discussed earlier today, the earnings season and now the FED are out of the way to a large degree, at least for the moment, and even with that, the S&P 500 hasn’t been able to power through to new highs.  Most companies have beat “the number” as they normally do but even when we add in the “sell on news” Q2 GDP that was greater than 4%, stocks haven’t been able to do much more than fail to take out highs, meaning, for now, resistance has held.  Our view was more positive last week and things did start off well but it’s crucial that the indices hold above nearby support they’re clutching or there could be much more selling.

First off, a few links worth considering to keep us sharp and respectful of risk.  They’re worth the read despite the mainstream sources from which we obtained them.

https://www.msn.com/en-us/money/markets/this-favorite-warren-buffett-metric-tells-us-a-stock-market-crash-could-be-coming/ar-BBL7KZy#image=2

https://www.marketwatch.com/story/prepare-for-the-biggest-stock-market-selloff-in-months-morgan-stanley-warns-2018-07-30?mod=MW_home_top_stories

Secondly, we did comb through new scans after the closing bell today and have to say that energy can now be added to the vulnerable list that already includes retail stocks.

It seems to matter where a company is in the space however.  For example, bears may have a look a D, Dominion Energy, while bulls may have a look at FSLR, First Solar.

Additionally, WMB, FITB, ZION and CFG, all flashed some bullish potential initial review.  We’re going to analyze them all further before deciding if we should officially add them as an idea or mention but thought we’d put them out for consideration for now.

Sincerely,

Wayne