Strive to Become Bored
When you do your homework, the market can tend to
get downright boring. That’s the way I like it because no matter what curveballs
the market throws, I’ll be ready.
Today, through all talk about the bifurcation of between the Dow and the
Nasdaq and the wild intraday swings, we have just been quietly going about the
business of identifying setups and letting the price behavior tell us whether
the setup is poised to work out.
Here is a nice boring one for you:
Like I haven’t shown you this type of setup before…Myriad
(
MYGN |
Quote |
Chart |
News |
PowerRating)
dipped below its 20-day moving average, a four-week trendline, and its 50%
retracement level. This is one that I’ll be watching for signs of follow-through
Tuesday. Most importantly, I’ll be looking for more setups like this one after
the market closes. You should be, too, and adding them to your watchlist. Armed
with this kind of information, you will be able to take what the market is
willing to give off this narrow and refined list of yours, rather than stressing
out at every hiccup.
Till Tuesday,