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THE WEEKLY SKETCH: 26 July 2020 ✨�-
Stocks declined sharply early on Friday, following reporting of record losses in the oil sector, but the market recovered, led by Big Tech once again, to positive territory following stellar quarterly results the previous evening. The DOW Industrials advanced 115.41 points, or 0.44%, to finish the week at 26,429.06. The S&P 500 rose by 25.04 points, or 0.77%, to close the week at 3,271.26 and the NASDAQ Composite was up by 157.46 points, or 1.49%, to end the week at 10,745.28. ��Overall, the market wrapped up a productive month for stocks with the DOW Industrials up by 2.38%, for July, whilst the S&P 500 rose by 5.51%, for its fourth successive positive month. The tech heavy NASDAQ outperformed everyone climbing 6.82% for the month.��Technically, the S&P 500 appears to be completing the leading diagonal five wave pattern, wave v-up, we have been charting for several weeks, and although its advance has given us pause several times this week, the final move above 3263, on Friday, gives us far greater confidence that the target of 3400, we have been suggesting, can be reached. However, as always, in the current market be prepared for "whipsaw" action, as seen on Friday, with wild swings that are often the characteristic of the completion of a leading diagonal fifth wave. �-�Unfortunately, that’s all Instagram has space for 😬 – so head to https://trade1-group.com/t1-education/theweeklysketch/ to continue your read! Link in Bio ✨🔗💪🏻

Self discipline begins with the mastery of your thoughts. If you don’t control what your think, you can’t control why you do 💪🏻

Whether we like it or not, most of us are heavily influenced by our emotions and biases. 🤔 Both emotion and bias are part of your psychology which is unique to you and can dramatically affect your trading style and temperament. 👨🏽‍💼👩🏻‍💼
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We must learn to understand and control our emotions in order to become better traders. Here are the five key emotions that could most effect your trading:
😁Happiness
😨Fear
😡Anger �🙄Impatience
🤗Pride
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As soon as you learn to take your emotions out of trading, then the real journey can begin. Click the link in bio for more info ✨🔗💪🏻.

THE WEEKLY SKETCH: 26 July 2020 ✨�-
Stocks fell on Friday, as a rollercoaster week for stocks finished with strong declines in trading with tech stocks, in particular, struggling and US-China tensions rising. The DOW Industrials declined 182.25 points, or 0.69%, to finish the week at 26,469.34. The S&P 500 fell by 20.04 points, or 0.62%, to close the week at 3,215.62 and the NASDAQ Composite was down by 98.24 points, or 0.94%, to end the week at 10,363.18.

Overall, the DOW Industrials finished the week down by 0.8%, for the first decline in four weeks, whilst the S&P 500 slid by 0.28%, to snap a three week winning streak. The tech heavy NASDAQ declined 1.33% for the week, logging its first back-to-back weekly declines since May.

Technically, the S&P 500 continues the five wave pattern we have been following from the March lows, with a possible completion target of 3400. The moves earlier this week gave a little more clarity to the pattern and having reached a target zone of just below 3300 this week, the support zone moved up to 3185 for wave iv-down, if this support zone is broken the door re-opens for a decline to the 2900 zone. So long as any rally remains above this support zone we expect the S&P 500 to move higher in wave v-up with an initial target of 3234 and then higher to the 3400 region…
�-�Unfortunately, that’s all Instagram has space for 😬 – so head to https://trade1-group.com/t1-education/theweeklysketch/ to continue your read! Link in Bio ✨🔗💪🏻

We hear you Ralph, we hear you 💪🏻
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