During the Weekly Watchlist we review the best stocks for options trading. We go over key levels of support and resistance and create an actionable game plan for the week ahead.
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The push and pull is continuing to happen across the broad market. We are still watching for the breakout higher in the SPY weekly bull flag for a retest of the all time high. The QQQ has pulled back of of the all time highs and is now less overextended. IWM has continued to develop value higher and could be a risk on signal. With earnings coming up there should be a clear indication if the breakout higher or the pullback is the likely scenario.
If you're a day trader looking to make fast money online, you certainly need to keep these areas of support and resistance in mind, as well as any technical patterns, before the opening bell on Monday morning.
Going into the day with a plan is important and will give your trading the edge you need to be a successful retail day trader.
Instead of looking at stock market news and googling 'stocks to trade today' or stock market crash 2020, every Monday morning, technical analysis makes my job a lot easier. A quick glance at the stock chart can tell me where to expect buying and selling battles.
$SPY $QQQ $IWM $AAPL $NFLX $TSLA $BABA $FB $NVDA $ROKU $MSFT $AMD $AMZN — These are the stocks that are always on our stock watchlist. Some people call them hot stock picks but we like to call them our ATM.
DISCLAIMER: The information provided in this video is for informational purposes only. It should not be considered financial or legal advice. I am not a Registered Investment Advisor. Buying and selling financial instruments is highly speculative and carries risk.