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I hope you had some time over the holidays to pause and reflect on your last year.
As we enter into the first full trading week of the New Year now is a good time to set some intentions and resolutions around what you want to bring more of into your trading and life this year.
One of the most impactful practices that have served me across all areas of my life has been the practice of mindfulness and meditation.
So if meditation/mindfulness is something you want to explore as a resolution in 2020 I would highly recommend our free 28 Day Mindfulness for Traders Challenge.
The 28 Day Mindfulness for Traders Challenge is a 28-day challenge where you will receive one meditation exercise per day, right to your email inbox.
In this 28 day challenge, you will be guided to break through your automatic pilot, to learn how to remain in the present, to get present and harness the power of your emotions and feelings, and finally to apply a mindfulness practice to your trading.
All you need to get started is an email address and 10 minutes per day to begin your mindfulness practice.
The feedback from the challenges has been great and many traders have reported feeling reduced stress and anxiety, improved general well-being, and a more positive outlook on life.
Sign up for the challenge – you won’t regret it.
The first trading week of the year kicked off with a bang as we saw both buyers and sellers step up and exert control during the shortened holiday trading week.
A lot of market commentators were gushing about the “first five trading days’ indicator until geopolitical news came in on Friday leaving some with egg on their face.
As a refresher, the premise goes if stocks finish the first five days higher, the S&P 500 has been positive more than 80% of the time at year-end with an average gain of about 13%, according to Stock Trader’s Almanac.
That being said as I’ve been stating over the past couple of months the SPY, DIA, and QQQ are all trading “momentum and up” on the monthly charts so the longer-term trend is still to the upside and this gives more weight for the January Effect to kick in.
In this week’s video, I examine the last week’s price action on major US indices to see what it can tell us about the coming week and month.
I also examine some longer timeframe charts for some larger moves that may be worth adding to your watchlist.
Watch this week’s Weekly Outlook video to see the setups and levels we’ll be watching as well as the technical outlook for the VXX SPY QQQ IWM DIA EEM TSX TLT GLD BTCUSD ETHUSD EEM and more for the week of Weekly Market Outlook for – January 6 – 10, 2020.