Hubert Senters here.
This is an introduction video. I’m travelling. I’ll be in Vegas this week and Mark Helweg is going to be filling in for me so I’m just letting you know so you’re not surprised. Without further ado I’m going to turn it over to Mark. Mark take it away. Thank you Hubert.
Let’s take a look at one of my favorite set-ups. This is called an elevated cycle low. Let me describe what I’m looking for here. This is looking at a weekly chart of Wells Fargo and in a perfect world when you look at a cycle indicator you’re going to see the cycle indicator oscillator on zero and you should see as much you know the swing above and below zero if buyers and sellers are equally matched.
Now what I’m looking for here is a case where the buyers are overwhelming the sellers where the buyers are much stronger than the sellers and that’s what’s happening right now in Wells Fargo. So if you look at the chart, put a weekly cycle indicator you’re going to see that what’s interesting is instead of the cycle low swinging down below zero like we normally expect it’s not even reaching zero in fact it’s staying above zero in positive territory.
When this happens then this can be incredibly powerful. It can be one of my favorite really it is one of my favorite set-ups here to indicate that it’s Wells Fargo’s in very strong hands. So expect Wells Fargo to spin up likely to $56 and beyond compared to where it is right now so there’s still more upside potential I believe in the swing.
But so far so good the swing is under way here. We should see a little bit more upside potential so I will say $56 is our target up here over the next couple of weeks. This is a weekly set-up so just be mindful of that if you’re trading options. You want to make sure you give the set-up, plenty of time to develop.
Lastly I just want to make you aware that we have the webinar this Wednesday night ‘’How to Potentially Profit from Huge Market Moves without Predicting the Direction.’’ So if you attend one of my webinars this year this is the webinar to attend.
The reason it targets in my opinion the best pattern in the stock market I must show you a bunch of real trades I’ve made that have made huge returns within a very short period of time targeting this pattern.
And the strategy is so simple. I taught it to my eighth grade daughter in less than five minutes so I’ll take you to the registration page right after this video see you tonight 8PM. Thanks for watching and good luck trading.