The weakness last week was very similar to what we saw in June and July; early strength was faded but then rallied back strongly to close out the month. We will see now if August can close out like the previous two and validate these strong looking signals.
Long-term breakouts are the most powerful potential signals. It pays to align yourself with these dominant trends, even if you don't trade them directly on the monthly signal, use them as the basis to build short-term trades off of. The largest moves in the market start from strong monthly bases, this is where the real winners are born.
A few others to note that have my attention: (these will not trigger this month most likely, but it's good to keep an eye on long-term winners as they consolidate near highs)
Studying the monthly timeframe is an absolute pillar of my trend-following process and how I build my longer-term portfolios.
Thanks for reading