Market Analysis for Jul 16th, 2021

Jul 16, 2021 - 11:30 AM EDT

Weekend is a good time to evaluate your buy+sell rules...ask yourself, did you execute what your system said?

We mostly followed this week's plan, took profits on a few megacap+large cap positions that we've been riding for a few weeks-months now, eg. $AAPL $ADBE $AMZN $PYPL $TSLA $NVDA $AMD $SE $NFLX $TSLA..etc

Raised cash and waiting for a potential short-term reset

Manage risk...it's the only thing we can control in terms of outcomes. Have a great weekend👋

Ricky Wen is an analyst at ElliottWaveTrader.net, where he writes a nightly market column and hosts the ES Trade Alerts premium subscription service.

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