Weekly Market Report with AJ Monte CMT 071423

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AJ Monte Free Weekly Report

Hello, investors and traders, and welcome to the weekly market report. I'm AJ Monte, chief technical analyst with stickytrades. com, and if you're joining us for the very first time, welcome, welcome. We have some exciting news for you. Next week, we're going to be launching our website. Which is easily found by just typing in stickytrades.com and you will be brought to a brand new website where you can log in, create your own new account. We have education, we have coaches, we have trade alerts, we have educational content, we have AI coming up for you here as I incorporate that into our trade alerts and all of the videos that I do will be archived.

on our member page. In addition to that, if you are a current member of mine, just go to stickytrades.com. You can click on a link right there that brings you to a video that will explain how to migrate over to us from anywhere else in the world. If you're up in Canada, you're out there in Europe. If you're here in the U S.

In addition to that, you go to our YouTube page and this is where you're going to be able to find our weekly market report and the midweek report. I'm going to be archiving the midweek report for free, and we'll also have alerts going out and promotional videos that will help you along the way. Finally, if you go to my Twitter page, You can pick me up there until we launch the brand new page next week.

You'll be able to pick up my links for the zoom calls for the next two weeks. Our zoom calls will be open to the public for free, at which time it will convert to the member area only. And we are doing this as a big thank you for those of you who are out there trying to find me. Now before we get into the charts, I just want you to know there's a lot going on next week.

It's options expiration week. So Monday night I'm doing an hour and a half long session. For our members, guiding them through my trade blotter, showing our members how to roll with the market. We call that dancing with the market. And I will go through the entire trade blotter, go through each one of our positions, and taking you into expiration Friday.

So let's get to the charts. If you look at DIA, you'll see that midweek report is still there. My downside target is 341. 84 for the diamonds. If you look back, you'll see that I have all my forecast lines from past reports where here we eventually hit the target. Here we hit a downside target. Here we hit an upside target.

Another upside target was hit and we even went further than that. Downside target here missed by a couple of pennies but I do think eventually we'll fill that. This upside target was hit from last week, and of course, the short term target that I have in place on the chart is still in force. Now, zooming into DIA, as I continue to show you what's happening on the chart, if you look down below, the CCI is showing a negative divergence.

I repeat this over and over again. We have a higher price high, but we have a slightly lower high. on the CCI. That's known as a negative divergence. So beware all buyers. We have a gap that's still open down below the market. I think that will fill. There's another gap that's still open on the diamonds down here that I think will fill.

But again, my short term target on that is going to be 341. 84. So stay tuned for that. Moving on in alphabetical order, if I go to IWM, You'll see that we have a big fat negative candle right there and we have an increase in volume on that negative candle. Now, again, zooming in a little bit further, that is a completed pivot point.

We have a lower high, lower low, gap below is still open, wide divergence from the moving average. The CCI down here is about to cross with the cell signal. So my downside target for IWM short term is right back to that moving average. at 187. 62 and then longer term,

As I move into SLV, I make this very public with my trading. Yesterday, I sold another 10% of my position and I put a price alert up here at 2320 for a possible gap fill. The reason I sold out of my other 10% now I'm 15% out of my SLV position but I'm 85% still bullish. Alright, so the reason I sell 15% and I scale out a little at a time is so that if SLV pulls back, and I think it will to fill some of these gaps, guess what I'm going to do with the money that I generated from selling out of 15% of my position.

I'So stay tuned. I'm making that open to the public. Remember, it's going to be found on my Twitter page.

You'll get the link for Zoom right there. And until then, you have a good rest of the week. And we'll talk to you next time, so long.

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