[Platinum Watchlist] (8.14.23)

Good morning. 

Last week, the Dow dipped 0.1%, while the S&P 500 lost 0.7% and the Nasdaq sank 1.8%, a second consecutive week of losses for the indices. With two weeks of losses, there are plenty of stocks with down trending price action, but very few with price action reversals as of yet.  

Market conditions are not very good for new entry points at the present as there are very few quality set-ups for the start of the week. The key to swing trading success is the discipline to follow your trading plan. There are times, such as the present where being patient and waiting for the market to present you with better opportunities is the best strategy.  

Swing traders should only enter trades where the potential profits outweigh the potential losses. If the risk/reward ratio is not favorable, it’s best to stay out of the market. At the present, the risk/reward ratio is not favorable. 

I’ll continue to monitor the Horizons list for potential stocks that can be moved up to the watch list. 

Have a great day! This information is for educational purposes and not a recommendation to buy or sell a stock