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Nasty Week For Stocks, But Support Lies Ahead

By The Chartman FOXBusiness

Overall, you’d have to say this was a pretty nasty week. Down over 2%, the market trades very “heavy” (translation: every “up” move is eventually repelled.)

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Still, there’s cause for hope because the Dow has now retreated back to the original breakout area and should find support there. If it doesn’t, then October could be nasty. But for now, fingers crossed.

On down weeks and down days I often look at what’s strong, and two stocks (both of which I own), jumped out. I’d classify them both as fairly safe plays, the first being Mattel (MAT). This stock has stayed solid despite market weakness, so look to buy if it breaks out.

The other stock is Comcast (CMCSA). I’ve profiled this a number of times and it’s done a nice job of continuing to gain. With more people staying home for entertainment, I think it has room to grow.

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Okay, off next week, but back the following week to see how this shaky market is doing.