It’s official: Economy is not slowing down

Here are the market observations for today

1. U.S. retail sales came in stronger than expected in August, thanks to back-to-school shopping and child tax credit payments from the government. It’s bad news for economic pessimists. 
2. Goldman Sachs upgraded Q3 GDP forecast to 4.5% from 3.5%
3. No matter what the news is, Sell the Strength continues when it comes to the Index.
4. Emerging market EEM is also under pressure. It has seen significant correction over the last 10 days.
5. Commodities are pulling back today. Everything from Oil to Uranium to metals. Buying Opportunity?
6. The index is under pressure but there is momentum in a speculative growth stock. SmileDirect Club +5% today.
7. I love breakouts in speculative growth stocks. This is how it’s working out in OPAD. I recommended yesterday at 12.6.
8. I am never a big fan of buying near lows. Gold mining stock GOLD is at 2021 low. No buyers still?
9. Silver SLV ETF is very close to significant support. Here’s how it looks on the chart. 
10. PLTR started its bull run around the middle of August with a gap and today has breached another significant resistance. This is the stock to hold and the rally might only get stronger. I recommended it back then when the stock gapped up in August.
11. When a stock sells off from a level and then breaks above it, the stock usually leads to strong gains. Example: DoorDash Trade
12. Earnings momentum in Macy’s + Better than expected retail sales is driving Macy’s stock higher. I like this stock.
13. When a stock makes a new high, it tests investors’ conviction by building a base at new highs. AMD seems to be doing the same.
14. When a stock fails to break on the upside, it sells off from the Line of Resistance. Here’s how
15. The breakout that’s working: MTTR. It’s up 6% today
16. The Breakout I would recommend even at the current market price: Safe Bulkers SB, a shipping stock. It has a perfect chart
17. AEHR has resumed uptrend. The pain in GEVO continues
18. Will ROVR find support here? Rover is an online marketplace for pet care. [Speculative play]
19. You learn trading the hard way. This means plenty of mistakes, plenty of study, and plenty of practice.
20. “Trading could be an incredible journey, as long as your expectations stay realistic! If you personalize losses, you can’t trade. Always focus on your process.” 

Do let me know how I can make this section more useful.

Disclaimer – The state of the market notes is Deepak’s perspective on the market. The column is purely for educational purposes. Nothing contained herein is a solicitation to trade or a recommendation of a specific trade. By reading this publication you agree to make no trade relying in whole or in part on the comments of the writers