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Welcome to our weekly newsletter where we provide an overview of the main US and UK indices, along with analyses of selected assets that are outperforming the market.

Let’s get into this week’s newsletter!

US & UK INDICES OVERVIEW

The S&P 500 closed the week at 5615, a weekly gain of 0.9%, and an all-time high. The strength of the previous week carried the index further forward. Results were mixed across the indices, with the Nasdaq declining by 0.3% after posting an all-time high, whilst the Dow Jones Index was the best performer with a gain of 1.8%. 

Year to date, the S&P 500 has gained an impressive 18%. As a result, the bullish momentum in equity markets remains strong. The S&P 500 has surged 35% since the low in October 2023 and 58% since the low in October 2022.

We continue to see individual stocks perform well. Our portfolio currently comprises over 20 US stocks, including LLY, AMP, META, NVDA and MCK. We have compounded these assets on multiple occasions, resulting in excellent profit for our Phoenix community members.

The FTSE 100, the UK’s premier index, had a strong week, gaining 0.6%, to close at 8253. Following a breakout above the all-time high in April, price has been bullish. As a result, we are now actively looking for opportunities.

OUTPERFORMING ASSET FOR THE WATCHLIST

Go Daddy – GDDY

GoDaddy Inc. is an American publicly traded Internet domain registry, domain registrar and web hosting company headquartered in Tempe, Arizona, and incorporated in Delaware. As of 2023, GoDaddy is the world’s fifth largest web host by market share, with over 62 million registered domains. The company has around 21 million customers and over 6,900 employees worldwide. 

GDDY is a stock with a history of trends, such as between 2017-18. This history gives us confidence that the stock has the potential to perform a similar trend in the future. Between October 2018 to November 2023, price was in a large period of consolidation. This was followed by a breakout, and price has since displayed a very bullish trend, gaining 47% since December.

GDDY concluded the week at $145. On the weekly time frame GDDY continues to trade above both the 50 and 200 SMA. The Sublime trend filter, our proprietary tool, remains green.

Whilst on the daily timeframe, the Sublime trend filter also continues to signal green, consistent with the longer-term trend perspective. Price action on the daily frame shows GDDY trading above the 20, 50, and 200 SMAs. Price is also consistently using the zone between the 20 and 50 SMAs as support.

Looking ahead, our Phoenix community members will be awaiting price to clear the $150 round number. Beyond that, the next area of potential resistance is the $200 round number.

OUTPERFORMING ASSET FOR THE WATCHLIST

Progressive Corporation – PGR

Progressive Corporation is an American insurance company, the third-largest insurance carrier and the largest commercial auto insurer in the United States. The company was co-founded in 1937 and is headquartered in Mayfield Village, Ohio. The company insures passenger vehicles, motorcycles, RVs, trailers, boats, PWC, and commercial vehicles. Progressive also provides home, life, pet, and other insurance through select companies. The company is ranked No. 74 on the 2021 Fortune 500 list of the top American corporations. 

Looking at the monthly chart, PGR is a stock in a long-term uptrend, with a gain of over 600% since January 2017. From a trend-trading perspective, PGR is a high quality stock our Phoenix Community has traded for good profit in the past. Following a sharp decline in July 2023, price has been in a strong uptrend, gaining 84%. This momentum has carried price towards the all-time high from May. From that point price weakened, resulting in a retest of the $200 round number.

On the weekly chart, PGR is in a bullish trend and the Sublime trend filter is green. The weekly 50 and 200 SMA are both aligned in an upward direction and the price is currently trading above both these averages, indicating bullish momentum. Looking at the daily chart, the price of PGR is currently trading above the 20, 50 and 200 SMAs. The Sublime trend filter is green.

The next area of potential resistance is the $250 round number. A continuation pattern above the all-time high could offer our Phoenix community an opportunity in a stock with a history of long term trends.

Looking Ahead

The strength in the US equities markets continues to push prices higher. As a result, our multiple positions in US stocks are benefiting handsomely from this momentum. As always, we will let price action guide our next move.

At Sublime, our unwavering commitment lies in conducting thorough analysis based on objective data and factual evidence presented in the charts. By adopting this approach, we aim to provide valuable guidance to our esteemed Phoenix community, collectively exploring opportunities that hold the potential for long-term, profitable trades.

Keep it simple. Keep it Sublime.

The ST Team

P.S. Answer 21 rapid-fire questions about your investing approach and then as if by magic, we will give you recommendations that are right for you and you’ll unlock your FREE Bonuses that will improve your investing results over the next 3 to 5 years.






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